Elementary excitations ͑magnon, libron, vibron, and their combinations͒ of solid and liquid oxygen samples of high optical quality have been investigated by high resolution Raman spectroscopy in the temperature range 10-90 K. From spectra we deduced band frequency, bandwidth, and band shape of all modes as a function of temperature. In particular we registered in a very narrow temperature range ⌬TϽ0.5 K at the ␣- phase transition libron spectra of the ␣ phase as well as of the  phase; from the coexistence of both phases we can unambiguously follow that this phase transition is of first order. We deduced also from Raman spectra hints about the magnetic interaction, like vibron-magnon mode coupling ͑unexpected broad vibron band in ␣-O 2 ), or two libron excitations. A joint analysis of the vibron frequencies of isotopomers in the 16 O 2 sample allows us to describe the key characteristics of the fundamental energy zone ͑environmental and resonance frequency shifts͒ in both low temperature phases. The Raman-active phonon sideband of the internal vibrations in ␣-and -O 2 is clearly shifted towards higher frequencies compared to the ir-active one; i.e., both kinds of phonon sidebands therefore possess a different physical origin. We determined the integrated intensity of the magnon Raman band as a function of temperature which is proportional to the magnetic order parameter and which can be modeled by the spin-spin correlation function ͗S i S j ͘.