This Letter presents a Cherenkov radiation oscillator with an electron beam travelling over a finitely thick plate made of negative-index materials. In such a scheme, the external reflectors required in the traditional Cherenkov oscillators are not necessary, since the electromagnetic energy flows backward in the negative-index materials, leading to inherent feedback. We theoretically analyzed the interaction between the electron beam and the electromagnetic wave, and worked out the growth rate and start current through numerical calculations. With the help of particle-in-cell simulation, the theoretical predictions are well demonstrated.