Mr O'Sullivan replaces Terry McCredden, who has held the position for five years.
"Terry leaves UniSuper in a strong position and, with Kevin at the helm, well positioned to manage the challenges ahead, including ongoing regulatory change and increased competition within the superannuation sector," said chairman Chris Cuffe.
"Kevin has also demonstrated himself to be a strategic, long-term thinker who has the kind of engaging, consultative style that is so important for working effectively with stakeholders both internally and externally."
O'Sullivan is currently director of actuarial and benefit consulting at Russell Investments, where he has worked for 22 years. He has approximately 30 years' experience in the superannuation and actuarial fields.
"The board was most impressed with Kevin's breadth of experience. His experiences in product design and managing complex superannuation products are first rate. He has a wealth of knowledge about investments and administration operations," said Mr Cuffe.