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1. Turn the key to the RUN position but don't start the engine.
2. Press the ENG MET button on the Trip Monitor. Within 5 seconds press the ENG MET button again.
3. Within 5 seconds of step 2, press and hold the GAUGES button on the Trip Monitor. The CHANGE OIL light will flash.
4. Hold the GAUGES button until the CHANGE OIL light stops flashing and goes out. This should take about 10 seconds. When the light goes out, the Engine Oil Life Monitor is reset. If it doesn't reset, turn the ignition to OFF and repeat
procedure.
From: 1994 LT1 Coupe 6-speed with FX3 & 2000 LS1 Vert 6-Speed with F45 Hunterdon County, NJ
In case you need the owner's manual (within which is the above instructions) here's a link to how to get it online from GM: http://www.gm.com/gmownercenter/