We investigated the fluorescence (FL) dependence on the environment oxygen content of poly(9,9-dioctylfluorene) (PF8) thin films. We show that the PF8 interactions with oxygen are not limited to the known irreversible photo-oxidation, resulting in the formation of Keto defects, but also reversible FL quenching is observed. This effect, which is stronger for the Keto defects than for the PF8, has been exploited for the realization of a prototype oxygen sensor based oil FL quenching. The sensing sensitivity of Keto defects is comparable with the state of the art organic oxygen sensors based on phosphorescence quenching.