The oval path that the Earth takes around the sun is called an elliptical orbit. The elliptical orbit was introduced to the world through the work of Johannes Kepler.
This elliptical orbit is described as an eccentricity that is measured between the numbers 0 and 1. The closer that the eccentricity is to 0, the closer the orbit is to a circle; if it is closer to 1, the orbit resembles an oval.
Earth's orbit is rated as 0.02, which makes it closer to a circle than an oval. Earth's orbit goes around the sun at over 100,000 mph, travelling over 900 million miles. The amount of space days that it takes Earth to make a complete orbit around the sun is 365, which provides the length of a calendar year.