In this study, we present results of both in-situ and ex-situ measurements of stress generated during dry oxidation of silicon. We show that the mechanical stress in as-grown dry oxides is a strong function of oxidation temperature and oxide thickness, but a weak function of oxygen partial pressure. We have identified a structural relaxation phenomenon after the oxide is formed, and found that the viscosity of the oxide increases with its age; consequently, the stress relaxation slows down due to this increase of viscosity. In this paper, we present a one-dimensional mechanical model to simulate the stress generation and relaxation during dry oxidation of silicon. The simulations of both in-situ and ex-situ tests are in good agreement with the experimental measurements.