The former chairman stepped down on Thursday.
"I think this is good news, it's time to move on from Daniel Levy,” O'Hara said on talkSPORT.
“There's been so much toxic nature around him. It's a tough one because he's done so many good things for the football club in terms of commercially where he's put the football club.
"The stadium's unbelievable, he's made it a rich football club, the training facilities are world-class.
“But I believe over his 25 years that we haven't done enough as a football club to win trophies, to be amongst the elite teams.”
He added, “It's hard to say I'm happy, but I'm happy because I think a lot of Spurs fans will say they are happy. The club's in a good position.
"You can't get away from the fact he's done a good job in terms of putting the club where it is, but we need to win more trophies.”