Norman will hand off day-to-day duties to O'Neil but remain with the series.
"On behalf of the board of directors, we welcome Scott to the LIV Golf family, knowing he will capitalise on everything that has been accomplished over the past three years," LIV Golf Board Chairman Yasir Al-Rumayyan said in a statement.
"Scott has the passion, the tenacity, and the vision to continue leveraging LIV Golf's position as a pre-eminent, global sports and entertainment company and to lead our amazing teams and players for years to come."
O'Neil most recently served as CEO of Merlin Entertainments Group, which operates amusement parks and resorts. Merlin announced in November that O'Neil was leaving for "another opportunity."
O'Neil became CEO of the Philadelphia 76ers in 2013. As CEO of Harris Blitzer Sports & Entertainment, he oversaw the Sixers and the NHL's New Jersey Devils.Â
He also served as president of Madison Square Garden and worked for the NBA.
O'Neil comes aboard amid ongoing negotiations for an alliance between LIV Golf, the PGA Tour and the DP World Tour.
Norman, 69, told Sports Illustrated in October that his contract was scheduled to end in August 2025.Â
We're excited to welcome Scott O'Neil as our new CEO! �— LIV Golf (@livgolf_league) With 25+ years leading iconic teams like the Knicks, 76ers, Rangers, and Eagles—and venues like MSG—Scott's ready to take LIV Golf to the next level. Welcome to the team! 🙌#LIVGolf pic.twitter.com/Ha94zwT2kkJanuary 15, 2025
He helped to launch the breakaway golf circuit, backed by Saudi Arabia's Public Investment Fund (PIF), in October 2021.
"When we launched LIV Golf, there was no one that made more sense to lead the organisation other than Greg Norman," Al-Rumayyan said.
"I thank him for everything he has done to establish, launch and grow our league. He has been instrumental to LIV's success.
Under Norman's watch, LIV Golf completed its third season in 2024.Â
Massive prize pools and nine-figure contracts have lured superstars like Jon Rahm, Bryson DeChambeau, Phil Mickelson, Dustin Johnson, Brooks Koepka and Cameron Smith away from the PGA Tour.
"First and foremost, congratulations to Scott," Norman said in a statement.
"He is exactly the type of experienced professional who understands the unique and powerful combination of entertainment and sports that LIV Golf exemplifies.Â
"The league will be in very good hands with him at the helm."