In thermal barrier coating (TBC) systems, a continuous alumina layer developed at the ceramic topcoat/bond coat interface helps to protect the metallic bond coat from further oxidation and improve the durability of the TBC system under service conditions. However, other oxides such as spinel and nickel oxide, formed in the oxidizing environment, are believed to be detrimental to TBC durability during service at high temperatures. It was shown that in an air-plasma-sprayed (APS) TBC system, post-spraying heat treatments in low-pressure oxygen environments could suppress the formation of the detrimental oxides by promoting the formation of an alumina layer at the ceramic topcoat/bond coat interface, leading to an improved TBC durability. This work presents the influence of post-spraying heat treatments in low-pressure oxygen environments on the oxidation behaviour and durability of a thermally sprayed TBC system with high-velocity oxy-fuel (HVOF)-produced Co-32Ni-21Cr-8Al-0.5Y (wt.%) bond coat. Oxidation behaviour of the TBCs is evaluated by examining their microstructural evolution, growth kinetics of the thermally grown oxide (TGO) layers, as well as crack propagation during low frequency thermal cycling at 1050°C. The relationship between the TGO growth and crack propagation will also be discussed.