I've got a program that's basically just looping through 10,000 some odd rows of calculated data and inserting each one individually into a table on an Oracle 10g database. The server takes a noticeable performance hit when I do this. Is there a more efficient way of inserting 10,000 + records into Oracle at one time? Maybe write to a file and do some kind of bulk insert?

ALWAYS
Post Operating System (OS) name & version for DB server system.
Post results of
SELECT * from v$version;

Do some research on BULK LOAD

How are you doing this now?

Are you using a control script or are you using a GUI tool?

To bulk load text files into the database, use SQL*Loader.

But 10,000 inserts should not bring the server down.
My low-end desktop (dual core 2Ghz, 2GB RAM, regular SATA harddisk) can cope with ~25,000 inserts per second and I can still do queries against the database or read my emails.
There is something in the picture you are not telling us.

This might be helpful to you

Load Your Data Faster

Explains the different ways of doing bulk inserts in oracle