Place oven rack in lowest position. Preheat oven to 325°F. Place roasting rack in shallow roasting pan. Mix Italian seasoning, seasoned salt and black pepper in small bowl.
Place turkey, breast-side up, in prepared pan. Brush turkey with oil. Spread seasoning mixture over entire surface and under skin of turkey. Add 1/2 cup water to pan; cover loosely with heavy duty foil.
Roast 1 hour. Remove foil. Roast 2 to 2 1/2 hours longer or until internal temperature reaches 165°F (175°F in thigh), basting occasionally with pan juices. Remove turkey from oven. Let stand 20 minutes. Transfer to platter or carving board and slice. Reserve pan juices to make gravy or to serve with turkey.