Despite its archaic, literary ring, oftentimes is quite alive today. In fact, it seems to be more popular now than it was in past decades, appearing frequently both in written expression and in speech. Oftentimes was first used in the 14th century (the same century that gave us often), and its meaning hasn't changed—as meanings oftentimes will—in all that time. It was formed as an extension of its slightly older synonym ofttimes. Today ofttimes is less common, but oft (which comes from Old English and also means "often" or "frequently") is popular in combination with past participles, as in oft-praised.