$Bi_{4}Ti_{3}O_{12}$ (BiT) thin films were grown on the Pt/Ti/$SiO_2$/si substrate using a metal organic decomposition (MOD) method. Effects of oxygen annealing on the structural properties and dielectric properties of the BiT thin films were investigated. The BiT films were well developed when rapid thermal annealed at $>500^{circ}C$ in oxygen ambient. For the film annealed at $700^{circ}C$, no crystalline phase was observed under oxygen free annealing atmosphere while its crystallinity was significantly enhanced as the oxygen pressure increased. The BiT film also exhibited a smooth surface with defect free grains. A high dielectric constant and a low dielectric loss were achieved satisfactory in the frequency range from 75 kHz to 1 MHz. Especially, the BiT film, annealed at $700^{circ}C$ and 10 torr oxygen pressure, showed good dielectric properties: dielectric constant of 51 and dielectric loss of 0.2 % at 100 kHz. Its leakage current was also considerably improved, being as $0.62;nA/cm^2$ at 1 V. Therefore, it is considered that the oxygen annealing has effects on an enhancement of crystallinity and dielectric properties of the BiT films.