<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0203</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2010-01-15</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000034956</issuerCik>
        <issuerName>OXYGEN BIOTHERAPEUTICS, INC.</issuerName>
        <issuerTradingSymbol>OXBT</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001481436</rptOwnerCik>
            <rptOwnerName>Jebsen Michael B</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>152 TOWNSEND DR.</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>CLAYTON</rptOwnerCity>
            <rptOwnerState>NC</rptOwnerState>
            <rptOwnerZipCode>27527</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Financial Officer</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Shares</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>67</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Incentive Stock Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>6.15</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2010-07-20</value>
            </exerciseDate>
            <expirationDate>
                <value>2019-07-20</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>667</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Incentive Stock Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>5.85</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2009-08-13</value>
            </exerciseDate>
            <expirationDate>
                <value>2019-08-12</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>3334</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Incentive Stock Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>6.375</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2009-09-01</value>
            </exerciseDate>
            <expirationDate>
                <value>2019-09-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>667</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Incentive Stock Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>5.85</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2009-10-01</value>
            </exerciseDate>
            <expirationDate>
                <value>2019-10-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>667</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Incentive Stock Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>6.45</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2009-11-01</value>
            </exerciseDate>
            <expirationDate>
                <value>2019-11-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>667</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Incentive Stock Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>5.58</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2009-12-01</value>
            </exerciseDate>
            <expirationDate>
                <value>2019-12-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>667</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Incentive Stock Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>5.79</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2010-01-01</value>
            </exerciseDate>
            <expirationDate>
                <value>2020-01-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>667</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <ownerSignature>
        <signatureName>/s/ Michael B. Jebsen</signatureName>
        <signatureDate>2010-01-19</signatureDate>
    </ownerSignature>
</ownershipDocument>
