Katy Perry, Earth Wind & Fire, Jennifer Hudson and Jon Bon Jovi will also play at the Nokia Theatre on October 7, in a concert dubbed "30 Days to Victory" ahead of the November 6 election.
The concert is being put on by veteran Grammys Producer Ken Ehrlich, along with Obama's Entertainment Advisory Council.
Tickets start at $44 and will be sold on the Obama campaign online.
Obama, bidding for re-election over Republican rival Mitt Romney, generally gets a warm welcome in Los Angeles and Hollywood, where members of the famously liberal entertainment industry mostly back Democrats.
After the October 7 show there will be a $25,000-a-plate fundraising dinner, co-hosted by DreamWorks Animation boss Jeffrey Katzenberg, at Oscars chef Wolfgang Puck's WP24 restaurant.