It was found on January 11 , 1787 by William Herschel , in the same year he found Titania . It was named after a Oberon , King of the Fairies , a character in William Shakespeare 's play A Midsummer Night 's Dream . Discovered by William Herschel in 1787 , Oberon is named after the mythical king of the fairies who appears as a character in Shakespeare 's A Midsummer Night 's Dream .