The Benin bronze, known as an "okukor", was bequeathed to Jesus College in 1930 by a former British Army officer.

In 2016 it was removed from display and the Legacy of Slavery Working Party (LSWP) has recommended it be returned.

Master of Jesus College Sonita Alleyne said they were not trying to "erase history".

She said the decision came after "diligent and careful" work of the LSWP into the legacy of slavery at Jesus College.

"We are an honest community, and after thorough investigation into the provenance of the Benin bronze, our job is to seek the best way forward," she added.

The LSWP, which includes academics and students, was set up earlier this year by the college to to investigate historic links it may have to the slave trade.

Sonita Alleyne was elected Master of Jesus College, a role which she took up in October

Almost 1,000 bronzes were taken after Benin City, in present-day Nigeria, was occupied by imperial troops in 1897, according to the British Museum.

About 900 of those artefacts are housed in museums and collections around the world, including the British Museum.

Jesus College's bronze cockerel, donated by Captain George William Neville, whose son had been a student there, took pride of place in the college dining hall.

The Benin bronze statue was prominently displayed in the college dining hall

Earlier this month Aboriginal artefacts taken from Australia more than 100 years ago were handed back by Manchester Museum.

Indigenous leaders came to the UK collect 12 items, including sacred ceremonial artefacts and a garment made with emu feathers.

No specific date has been given for the return of the statue, nor any details of how it will be done.