Have you looked at the tool that Oracle has just for this purpose?
I have not used it, but I know they have created a piece of software solely for helping move from MySQL to Oracle.
You could do a select into outfile, however, you could also probably just do a dump.
mysqldump -u root -ppassword database_name > your_dumped_file.sql
That will dump table descriptions as well as the data. It is probably a bit faster than a select into outfile.
-- Jason