how to repair roof sheathing?

The front left corner of the roof has the edges of the sheathing damaged. Are there any clever tricks that you can share with me on how to go about repairing such a damage. From the looks of it, seems like only the front exposed area is damaged.
This is pretty much what I was thinking to do as well. But I am not a pro so wanted to double check.

Dan, thanks for the answer.

One follow up question is that this piece of sheathing is above an overhang. Teh overhang has wood underneath to hide the sheathing above. Wouldn't cutting with a circular saw cause damage to it ?

View this post on my blog: http://madeinhome.info/how-to-repair-roof-sheathing-2