In 1874 Sherwood was named after General Isaac N. Sherwood who was an officer in the Union army during the Civil war, he was also an American politician and a newspaper editor from Toledo, Ohio. He served nine years in the United States Congress.
In 1886 there was a vote for a dry community in Delaware Township, fearing for the growth of their small town there was a vote in 1890 for incorporation.
Judson Arnett summed up Sherwood in the March 24th, 1949 publication of "The Chronicle."
"This town brought into being by people who were more than willing to work together, who were willing to place the community good above and beyond personal aspirations. The spirit of common enterprise is one of Sherwood's finest heritages, but it seems to me that sometimes too many of us ignore it. The finest heritage we have is that of working together."