The latest changes complete the West Oxfordshire phase of Oxfordshire County Council's project to review speed limits across the whole county.
The new limits include extending the 30mph speed limit in London Road to beyond Holy Trinity Primary School.
Chipping Norton county councillor Rob Evans said: "I'm delighted we have these new limits in place after a long campaign.
"With so many heavy lorries unnecessarily trundling through the town, we must slow down all the traffic for everyone's safety.
"Schools on main roads have to be especially protected, and this is now the case in both Chipping Norton and Great Rollright."
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