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TURN THE IGNITION KEY TO RUN WITH THE ENGINE OFF.FULLY PRESS AND RELEASE THE ACCELERATOR PEDAL THREE TIMES WITH IN FIVE SECONDS.YOU HAVE TO DO THIS MORE THAN ONE TIME.ITS NOT GOING TO RESET FIRST TRY BUT DO THIS PROCEDURE.UNTIL THE CHANGE ENGINE OIL LIGHT WILL FLASH WHILE THE SYSTEM IS RESETTING.TURN THE KEY TO OFF.WAIT A FEW SECONDS.START CAR UP TO SEE IF CHANGE OIL LIGHT COME BACK ON.IF YES YOU HAVE TO TRY THE RESET PROCEDURE AGAIN.
Information courtesy of synthetic-direct.ca Chevrolet Suburban/GMC Yukon XL, 2000-05 Chevrolet GMC Trucks Silverado, Sierra, 1999-05 Chevrolet Venture 2000
Turn the ignition key to the RUN position. Fully push and release the accelerator pedal 3 times within 5 seconds. If the CHANGE OIL SOON light flashes 2 times, the system is reset. However if the light comes on and stays on for 5 seconds, the system did not reset. Repeat the procedure if the system does not reset.
Best of luck.
Turn the ignition to run. Within three seconds push the gas pedal to the floor three times. Turn the key to off, and then start the car. The light should flash three times signifying that it reset. If it does not, try repeating the process, but instead of turning it to off after stepping on the pedal, just start the car.