Sherman, who is currently executive vice president of onboard revenue and destination services for NCLH, will take up the new role on 1 January, 2022.
Ross Henderson, onboard revenue senior vice president, will be promoted as Sherman’s successor.
As co-founder of Oceania Cruises in 2002 with NCLH president and chief Frank Del Rio, Binder played a "vital role" in the development and growth of the brand.
"Bob has played a critical role in all of Oceania Cruises’ tremendous achievements over the past two decades," Del Rio said.
"We are extremely grateful for the unwavering leadership and entrepreneurial spirit he has brought to our company over his tenure."
Binder has led the brand since September 2016 and has been vice chairman of Oceania Cruises and Regent Seven Seas Cruises since May 2015.
Prior to the company’s acquisition of Prestige Cruise International, Binder served as vice chairman of Prestige since May 2011 and president since January 2008.
"Since co-founding Oceania Cruises in 2002, it has been my extraordinary privilege to witness its evolution into the world’s leading culinary and destination focused cruise line," Binder said.
Sherman has served as executive vice president of onboard revenue and destination services of NCLH since September 2016 and as executive vice president of revenue management from February 2015 until September 2016.
Del Rio said the promotions of Shermann and Henderson are a "testament to our ability to leverage the considerable bench strength across our organisation".
"Both are strategic thinkers with deep knowledge of our company and industry and proven track records of leadership which will be invaluable as we continually strive to take our company to new heights," he added.
Sherman said: "I am incredibly honored for this opportunity to lead the renowned Oceania Cruises brand.
"I look forward to building upon the strong foundation the top-notch team at Oceania Cruises has created and contributing to the line’s continued growth and success."
