The best replacement for oblivion is morrowind.

The best alternatives to oblivion are rated as following:
★★★★★  morrowind
★★★★  fallout 3
★★  skyrim
★★  dragon age
★  fable
★  elysium
★  world of warcraft
★  fable 2
★  mass effect
★  skyrim graphics
★  divine rose
★  oathkeeper
★  skyrim first
★  dark souls
★  dark messiah
★  fallout
  two worlds
  moon
  fallout new vegas
  skyrim size
  fable 3
  skyrim map size
  skyrim comparison
  morrowind better
  olympus has fallen
  skyrim story
  after earth
  gothic 3
  new vegas
  two worlds 2
  dark brotherhood
  paradise
  dragon age origins
  oblivion
  bioshock
  skyrim better
  skyrim gameplay
  morrowind size
  fall out
  skyrim armor
  ps3 oblivion
  ghost recon
  two world's
  warcraft
  umbra
  iron man 3
  graw
  witcher
  skyrim races

Your alternative for oblivion is not listed? Suggest!
Speaking about oblivion, one probably shouldn't forget about gamepad.

Other search terms related to oblivion and their ratings are:
★★★★★ gamepad
★★★★ graphic mods
You have in mind a companion for oblivion and it is not yet here? Propose!



Google Trends

Scale is based on the average worldwide traffic of oblivion in all years. Click on graph for more.
oblivion
morrowind
fallout 3