An adjustable camera assembly mounted within a door of an oven appliance includes a vertical guide rail and a camera movably mounted to the guide rail. A drive mechanism, such as a lead screw driven by a stepper motor, is mechanically coupled to the camera for moving the camera along the guide rail. A heat shield is positioned proximate a bottom of the door and extends around the guide rail to define a protective cavity for receiving the camera and providing a thermal break from a heating element of the oven appliance. A controller is configured for moving the camera into the protective cavity during high temperature operation of the oven appliance, such as during a self-clean cycle.