In the semi-finals, the promising Israeli made it difficult for Judd Trump before losing by 6-3.
Sharav collected £20,000 in prize money and can expect to rise from his current standing of 77th in the world.
Born in Israel, Sharav, 26, was raised in Scotland after his parents divorced. However, despite spending most of his life in Alloa, he elected to represent Israel, where his father still lives, on the professional tournament circuit.
Snooker is increasing in popularity in Israel, with Shachar Ruberg also competing on the circuit.