In a statement on his Facebook page, the president paid tribute to a "great entrepreneur, innovator and a major force in the digital revolution we are living through."
"His talent for revolutionizing entire economic sectors by the power of imagination and technology is an inspiration for millions of engineers and entrepreneurs around the world," he said.
Jobs died after a long battle with pancreatic cancer. Tributes have been flowing in from world leaders, company bosses and the many fans of Apple's groundbreaking products.
"Steve was among the greatest of American innovators - brave enough to think differently, bold enough to believe he could change the world and talented enough to do it," President Barack Obama said in a statement.
The company devoted the front page of its website to its founder on Thursday, saying that "Apple has lost a visionary and creative genius, and the world has lost an amazing human being."