Recently, axion-like particle search has received renewed interest, and several groups have started experiments. In this paper, we present the final results of our experiment on photon-axion oscillations in the presence of a magnetic field, which took place at LULI (Laboratoire pour l'Utilisation des Lasers Intenses, Palaiseau, France). Our null measurement allowed us to exclude the existence of axions with inverse coupling constant M > 9. × 10 5 GeV for low axion masses and to improve the preceding BFRT limits by a factor 3 or more for axion masses 1.1 meV < ma < 2.6 meV. We also show that our experimental results improve the existing limits on the parameters of a low mass hidden-sector boson usually dubbed "paraphoton" because of its similarity with the usual photon. We detail our apparatus which is based on the "light shining through the wall" technique. We compare our results to other existing ones.