We obtain the bound-state solutions of the radial Schrödinger equation with the shifted Deng–Fan oscillator potential in the frame of the Nikiforov-Uvarov method by employing Pekeris-type approximation to deal with the centrifugal term. The analytical expressions for the energy eigenvalues and the corresponding normalized wave functions are obtained in closed form for arbitrary l-state. The ro-vibrational energy levels for a few diatomic molecules are also calculated. They are found to be in good agreement with those ones previously obtained by the Morse potential.