Professor Dame Sarah Gilbert said: "This will not be the last time a virus threatens our lives and our livelihoods.
"The truth is the next one could be worse. It could be more contagious, or more lethal, or both."
Dame Sarah gave her warning while delivering the 44th Richard Dimbleby Lecture, named in honour of the late broadcaster.
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She said: "We cannot allow a situation where we have gone through all we have gone through, and then find that the enormous economic losses we have sustained mean that there is still no funding for pandemic preparedness.
"The advances we have made, and the knowledge we have gained, must not be lost."
Along with the vaccine developed by BioNTech and Pfizer, the Oxford-AstraZeneca vaccine was one of the main parts of the UK's COVID-19 vaccination programme when it began a year ago.
Since then, it has been used in more than 170 countries.
Before COVID-19, Dame Sarah worked on vaccines for more than 10 years, using antigens from malaria and influenza.
She was recognised with a damehood earlier this year for services to science and public health.
The 59-year-old also spoke about the emerging Omicron variant, which has prompted the return of restrictions in many countries.
She said: "The spike protein of this variant contains mutations already known to increase transmissibility of the virus.
"But there are additional changes that may mean antibodies induced by the vaccines, or by infection with other variants, may be less effective at preventing infection with Omicron.
"Until we know more, we should be cautious, and take steps to slow down the spread of this new variant.
"But as we have seen before, reduced protection against infection and mild disease does not necessarily mean reduced protection against severe disease and death."
On Sunday night, the UK reported a further 86 cases of the Omicron variant, taking the total to 246.
The government has already reintroduced several measures to tackle the disease, including mandatory face masks in shops and on public transport, and pre-departure testing for all UK arrivals.
It is also thought that the UK could face "more stringent measures" after Christmas.
Meanwhile, The Daily Telegraph has reported that some of those most at risk are yet to receive their booster vaccinations.
The newspaper said that an unpublished Whitehall analysis showed only 170,000 housebound people had received their dose by the end of last week out an estimated 470,000.
More than 60% of the over-50s have received their booster.
A NHS spokesman said: "Local NHS and GP teams are contacting their eligible housebound patients, and we are working closely with St John Ambulance to give local areas additional support.
"We are also providing additional funding to help local teams secure additional staff so that all eligible housebound patients are offered a booster as quickly and safely as possible."

The 76-year-old has been in detention since 1 February when the military seized power in a coup.
Ms Suu Kyi has been charged with a range of offences including corruption, possessing unregistered walkie-talkies, and violating the official secrets act.
Combined, it is estimated the charges carry maximum jail sentences of more than 100 years.
The trials have been held behind closed doors and Ms Suu Kyi has not been seen in public since her detention.
She received the four-year term on Monday on charges of incitement and breaking COVID-19 restrictions.
Myanmar's ousted president Win Myint was given the same jail sentence, while Dr Myo Aung, the former mayor of Naypyidaw, was given a two-year sentence.
Journalists are barred from entering the court and Ms Suu Kyi's lawyers have been banned from speaking to the press.
Supporters of Ms Suu Kyi claim the charges are bogus and an attempt to block her from returning to power.
'Flexing his muscles'
Richard Horsey, an expert at International Crisis Group told Sky News "This is the first of many charges against Aung San Suu Kyi to be heard.
"This is not a legal process, it is retribution against Aung San Suu Kyi - basically, Min Aung Hlaing flexing his muscles."
Amnesty International's deputy regional director for campaigns, Ming Yu Hah, said: "The harsh sentences handed down to Aung San Suu Kyi on these bogus charges are the latest example of the military's determination to eliminate all opposition and suffocate freedoms in Myanmar.
"The court's farcical and corrupt decision is part of a devastating pattern of arbitrary punishment that has seen more than 1,300 people killed and thousands arrested since the military coup in February.
"There are many detainees without the profile of Aung San Suu Kyi who currently face the terrifying prospect of years behind bars simply for peacefully exercising their human rights. They must not be forgotten and left to their fate.
"As violence escalates, displacing tens of thousands of people and setting up a humanitarian crisis in the middle of an ongoing pandemic, the situation in Myanmar today is alarming in the extreme. Without a decisive, unified and swift international response this can and will get worse."
Aung San Suu Kyi: From symbol of human rights to fighting claims of genocide
At the time of publication, the military spokesperson couldn't be reached for comment but has previously said Ms Suu Kyi would be afforded due process by an independent judiciary.
Ms Suu Kyi's popular National League for Democracy (NLD) party won a resounding victory in a general election in November 2020.
The military later alleged the victory was a result of election fraud and claimed it needed to take over the running of the country, overthrowing the democratically elected government.
The British government has also criticised the military junta in Myanmar, with the foreign secretary describing the sentencing as "another appalling attempt by Myanmar's military regime to stifle opposition and suppress freedom and democracy".
"The United Kingdom calls on the regime to release political prisoners, engage in dialogue and allow a return to democracy. The arbitrary detention of elected politicians only risks further unrest," Liz Truss said in a statement.
Car 'rammed into protesters'
More than 10,000 people have been arrested since the coup and more than 1,300 have been killed, according to figures from the Assistance Association for Political Prisoners Burma (AAPPB).
Many of the dead were shot by security forces as they took part in pro-democracy protests.
On Sunday, it was reported that five people died and at least 15 people were arrested after junta forces rammed a car into anti-coup protesters in Yangon.
The UN, UK and US are among those to have repeatedly condemned the ongoing violence and called for the immediate release of political prisoners.

Gough, who captained the county, will remain in the role until the end of the 2022 season after the club's entire coaching staff left in the wake of the Azeem Rafiq racism scandal.
"Like many, I have followed how the club handled the recent racism allegations with sadness and anger," Gough, who retired in 2008, said.
"Change will not happen overnight, but I am certain that we can make Headingley roar again.
"I want to play my part in rebuilding cricket in Yorkshire and I am looking forward to working with the exceptionally talented group of players here."
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The club said Gough will start his work at the club immediately and he will oversee the recruitment of a new coaching team.
Why is the club recruiting a new coaching team?
On 3 December, Yorkshire CCC director of cricket Martyn Moxon and head coach Andrew Gale were among 16 members of staff who left the club.
Their departures follow those of former club president Roger Hutton, who resigned on 5 November, and former chief executive Mark Arthur, who stepped down a week later.
The key revelations from Azeem Rafiq's testimony to MPs
Hutton was replaced by Lord Kamlesh Patel of Bradford.
Last month Rafiq testified before MPs saying he felt "isolated, humiliated at times" due to the bombardment of racism he suffered and the "constant uses of the word p***" during his time at the club.
The spin bowler said he and other players from Asian backgrounds endured comments such as "you'll sit over there near the toilets" and "elephant washers", adding that "there seemed to be an acceptance" of racism in the institution.
Rafiq had previously told Sky News there needed to be a "total clear-out" at the club, calling for the entire leadership team to leave - and a month ago he said it would be impossible for the team to move forward with Mr Moxon and Mr Gale still at the organisation.
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Who is Darren Gough?
Gough is regarded as one of England's best-ever bowlers, spearheading the attack through much of the 1990s.
He is England's second highest wicket-taker in one-day internationals and the ninth-most successful overall.
Gough, who made his first-class debut for Yorkshire in 1989, played county cricket for the club for 15 years.
The fast bowler is highly regarded by Rafiq and was among the first to make contact when his allegations of discrimination at the club became public.
England Test captain Joe Root, a lifelong Yorkshire player, has also backed Gough as the perfect man to help the county side recover from the controversy.
Speaking from Brisbane ahead of the first Ashes Test, Root said: "I've obviously spent time with Darren (Gough) and he's a good man.
"I'm sure he'll be looking to put his stamp on things at the club.
"From my experience of spending time with Goughy, he is obviously very passionate and knowledgeable about the game. His love for it is clear for anyone to see and for the club as well.
"I'm sure he will be wanting to bring all of that to the fore and all of his experiences and achievements within the game and pass that knowledge on to the group if it is that he is about to take over."

As part of a 10-year plan for tackling drugs crime in England and Wales and taking on the "kingpins" behind supplies, the Boris Johnson has warned criminals they will have "nowhere to hide".
The prime minister is promising a £300m investment to close down drugs gangs and dismantle 2,000 more "county lines" supplies with thousands more arrests.
Mr Johnson is also pledging the largest-ever increase in investment in treatment and recovery for addicts, as well as looking at new measures to reduce demand and deter people from illegal drug use through more meaningful consequences.
The Home Office pointed to evidence that shows there are more than 300,000 heroin and crack cocaine addicts in England who, between them, are responsible for nearly half of crimes such as burglaries, robberies and theft from shops.
Drugs crime also drives nearly half of all homicides and the cost to society of wrongdoing by addicts is estimated at nearly £20bn a year in England alone, the department added.
Ahead of the publication of the 10-year drugs strategy on Monday, the prime minister said the government was "putting a lot more investment" into "tackling the 300,000 problem drug users who drive about half the acquisitive crime and about half of the homicides in this country".
"What we're doing is we are ramping up our campaign against the county lines networks that are preying on these users.
"You've got to invest in rehabilitation; everyone who knows about drugs crime will tell you that (these) 300,000 people, their lives, they are chaotic.
"They need to be taken off drugs, they need to be put into rehab, so you've got to invest in rehab."
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The PM added: "You've got to be tougher on the county lines gangs, you've got to be tougher on the criminals who are doing it, but you've also got to make sure that you find those 300,000 people and you help them.
"You can't simply arrest them time after time and put them back into prison again and again - you've got to do rehab as well."
Known as "county lines" supply, the government is promising to invest up to £145m in work to crack down on drug dealers in major cities who establish networks - often through younger and more vulnerable people - for the supply and sale of drugs to users in towns and rural areas.
The Home Office said its county lines programme, which will target road and rail networks, had already closed 1,500 supply routes and made more than 7,400 arrests with the safeguarding of more than 4,000 vulnerable adults and children.
Among other action being pledged in the drugs strategy, the government is promising to:
• Carry out 6,400 disruptions against the activities of organised criminals - an increase of 20%
• Expand the use of drug testing when police make arrests in order to direct users towards treatment or other interventions
• Increase the number of police forces who will run new schemes focused on intervening on a wide range of individuals at an early stage, such as attendance at drug awareness courses with criminal sanctions possible for those who continue to use drugs
• Test messages on university campuses as part of a pilot campaign to try and discourage drug use at an early stage
• Give judges power to order drug testing of anyone serving a community sentence whose offending is related to drug use, with them liable to be resentenced to a prison term if they test positive
• Use drug dealers' seized phones to contact their clients with messages to discourage drug use or direct them to support.
There will also be extra cash for 50 local authorities with the worst drug problems, including Middlesbrough, Blackpool, Liverpool, Hull and coastal towns in the North East and Yorkshire.
Home Secretary Priti Patel said: "It is clear that the drugs trade is still driving so much crime - we must do more to prevent these ruthless gangs ruining lives, tearing apart communities and exploiting young people.
"This strategy will help to relentlessly pursue the kingpins behind these supply lines, making our streets safer."
Labour leader Sir Keir Starmer said government cuts had made the problems worse.
"There's no doubt that the drug problem has got a lot worse in the last 10 years, particularly issues like drug-related deaths and the county lines, which are destroying lives," he said.
"The question for the government is not just over the plans today but the money that they have taken out of the system - millions and millions of pounds have been taken out of the system over the years and that has caused a lot of the problems."

"We're still waiting to see exactly how dangerous it is, what sort of effect it has in terms of deaths and hospitalisations," Boris Johnson said about the variant.
Live COVID updates from the UK and around the world
From tomorrow, pre-departure tests for all travellers are being brought back amid the spread of the Omicron variant of COVID-19.
It follows on from the reintroduction of day two PCR tests for anyone who enters the UK from abroad.
Nigeria has also become the latest African country to be added to the travel red list.
But one expert has warned the moves are "a case of shutting the stable door after the horse has bolted".
Professor Mark Woolhouse, a member of the Scientific Advisory Group for Emergencies which advises the government on its pandemic response, told the BBC's Andrew Marr that the new rules had come "too late" to make a "material difference".
But the PM rejected such criticism.
"I think what we're doing is responding to the pandemic," he said during a visit to Merseyside.
"We were the first country in the world to take decisive measures to tackle Omicron.
"We put about 10 countries automatically, immediately, on to the red list and we said that anybody coming from any country in the world would have to quarantine for a couple of days.
"We're now going further and toughening those measures up as we see the spread of Omicron around the world.
"I don't think we need to change the overall guidance and advice we're giving about Omicron in this country.
"We're still waiting to see exactly how dangerous it is, what sort of effect it has in terms of deaths and hospitalisations."
Everything you need to know as COVID travel rules change again
Labour leader Sir Keir Starmer said the government should have acted "more quickly" and were "behind the curve", as he called on them to bring the costs of the tests down.
Sir Keir said: "As soon as we saw the scientific evidence saying that (there) should be pre-departure tests, we called on the government to do this last week. The government delayed, as they always do.
"They've done it now, that's a good thing. But the government needs to get ahead instead of being behind."
Speaking to Kay Burley on Sky News earlier, policing minister Kit Malthouse also rejected claims ministers had been too slow to act.
"We have to be agile, we have to recognise that all these things are impositions on people's lives and lifestyles," he said.
"There are obviously extra costs and they cause difficulty for the travel industry.
"We need to try and smooth that out as much as possible and be proportionate about our response."

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Airline operators have been critical of the decision to bring back pre-departure testing, describing it as a "hammer blow" for an industry that has suffered throughout the pandemic.
Mr Malthouse defended the government's approach in the wake of Omicron emerging, telling Sky News it is "proportionate and precautionary".
He said he has "great confidence" scientists will give us a clearer picture in the coming weeks.
"We need a bit of time to make our view of what this virus is capable of," Mr Malthouse said.