Ueberroth was also the man who organised the 1984 Los Angeles Olympic Games and helped it generate a $225m profit.
His appointment comes as part of a major reorganisation within USOC after a major probe into its operation last year criticised the way it was run.
A key change in its structure saw the previous 120-strong board replaced with a board of just 11.
Other appointments to the board saw Stephanie Streeter, CEO of the Banta Corporation join Alliant Energy CEO Erroll Davis, and Dr Harold Shapiro, professor of economics at Princeton University as the three other independent directors, in addition to Ueberroth.
The rest of the board will comprise of three US IOC members and four others, nominated by sports organisations and athletes.
It is not yet known when a CEO will be appointed.
