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"I am grateful to the president for giving me this opportunity to serve the people of New Jersey," Fishman said in a statement.
Fishman previously was nominated by the state's U.S. senators, Frank Lautenberg and Robert Menendez, both Democrats. The next step is Senate confirmation.
Fishman, 52, of Montclair, would replace Christopher J. Christie, now a Republican candidate for governor.
Obama announced his support for Fishman along with his U.S. attorney nominees for New York, Vermont, Washington, New Hampshire and Alabama.
"This group of men and women have distinguished themselves as fair, tenacious and respected attorneys throughout their careers in both public and private service," Obama said. "They will serve their country with distinction as U.S. attorneys."
Lautenberg said in a statement that Fishman "has the integrity, knowledge, expertise, and judgment to protect our residents and their rights."
Menendez said he believed Fishman would "work with integrity and effectiveness to make economic crimes, the spreading gang activity, as well as gun and drug trafficking, a priority of the office."
Fishman started in the U.S. Attorney's Office in 1983 and rose to first assistant. He left New Jersey in 1994 for the Justice Department in Washington, where he became principal associate deputy attorney general. He specialized in prosecuting white-collar, firearms, narcotics, and gang cases.
He is now a partner in Friedman Kaplan Seiler & Adelman L.L.P.
Born in River Edge, Bergen County, Fishman graduated from Princeton University and Harvard Law School, returning to Harvard to teach trial advocacy.
Private clients have included Jim Cramer, the host of Mad Money, and Carla Katz, the former state workers' union leader and Gov. Corzine's former girlfriend.
Fishman is a member of several professional organizations and a board member at the Yogi Berra Museum and Learning Center.
He is married and has two children.
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