With the victory, Oberholser earned $81,000 and overtook Cliff Kresge atop the 2002 money list. His name will now go alongside some of the golf's greats who also captured this championship - Arnold Palmer, Lee Trevino, Ray Floyd and Lanny Wadkins.
'To put my name on that trophy alongside those names is unbelievable,' said Oberholser, who shot 62 in the third round.
Doug Barron finished alone in second at 14-under par, followed by Tommy Biershenk, who fired a final-round 64 to come in third place at 13-under-par 271.
Oberholser did not take long to erase Pete Morgan's one-stroke lead Sunday. Oberholser birdied the first two holes to grab the lead and held it most of the round.
He sandwiched a bogey around a pair of birdies at the end of his front nine and opened the second nine with birdies at 10 and 11 to extend his advantage.
No other players seriously contended and after Oberholser parred the remaining holes, he visited the winner's circle for the first time in 15 starts on the Buy.Com Tour.
'I really just went after it today,' said Oberholser, who hit 14 of 18 greens in regulation Sunday. 'My putting has been awesome all week and the last couple of days my short irons were clicking.'
Oberholser nearly won earlier in the season at the Virginia Beach Open. He lost to Kresge in a playoff when Kresge holed an eagle chip from 45 feet to capture the title.
'This is real special for me because I've fought back from a lot,' said Oberholser, who also sat out most the 2001 campaign with a hand injury. 'One of my goals this season was to win a tournament and now I've done that. My other goals were to win the money list and get my PGA Tour card, so I'm one-third of the way there.'
Morgan struggled to an even-par and shared fourth with Ken Green, Zoran Zorkic and Don Reese. The group came in at minus 12.
Final results from the Samsung Canadian PGA Championship