Born in Merrimack, New Hampshire, Sherman was a member of the United States Naval Academy class of 1918, graduating in June 1917 due to America's entry into World War I.

Following duty as Flag Lieutenant to Commander Control Force, Atlantic Fleet, he received flight training at Naval Air Station Pensacola, Florida.

After Wasp was sunk by a Japanese submarine on September 15, 1942, Sherman was awarded the Navy Cross for his extraordinary heroism in command of the carrier during the opening days of the South Pacific operations.

He held that position for the remainder of World War II, playing a critical role in planning the offensives that brought victory in the Pacific, and was present when Japan surrendered on September 2, 1945.

Following a short tour as a carrier division commander, in December 1945 Vice Admiral Sherman became Deputy Chief of Naval Operations.

On July 22, 1951, while on a military and diplomatic trip to Europe, Admiral Forrest Sherman died in Naples, Italy, following a sudden series of heart attacks.