A search for neutron-antineutron ($n-bar{n}$) oscillation was undertaken in Super-Kamiokande using the 1489 live-day or $2.45 times 10^{34}$ neutron-year exposure data. This process violates both baryon and baryon minus lepton numbers by an absolute value of two units and is predicted by a large class of hypothetical models where the seesaw mechanism is incorporated to explain the observed tiny neutrino masses and the matter-antimatter asymmetry in the Universe. No evidence for $n-bar{n}$ oscillation was found, the lower limit of the lifetime for neutrons bound in ${}^{16}$O, in an analysis that included all of the significant sources of experimental uncertainties, was determined to be $1.9 times 10^{32}$~years at the 90% confidence level. The corresponding lower limit for the oscillation time of free neutrons was calculated to be $2.7 times 10^8$~s using a theoretical value of the nuclear suppression factor of $0.517 times 10^{23}$~s$^{-1}$ and its uncertainty.