The President's predecessor George W. Bush will also be in the the country addressing a conference on African women, and the two men are planning to meet at the U.S. Embassy in Dar es Salaam tomorrow.
Mr Obama and Mr Bush will lay a wreath to commemorate the embassy bombing which killed 11 people in 1998.
The current President has flown in from South Africa after first visiting Senegal in a trip to promote ties between the U.S. and Africa's leading democracies.
He is set to meet with the president of Tanzania, Jakaya Kikwete, as well as a number of American and African business hoping to boost trade in the region.
Tomorrow morning he will link up with Mr Bush at the embassy before delivering a speech on electricity in Africa, and will then fly back to Washington.
His Republican predecessor is attending a conference organised by the George W. Bush Institute.
The two men's wives, Michelle Obama and Laura Bush, will team up at the conference for a discussion on promoting women's education, health and employment.
On Sunday, Mr Obama publicly praised him for saving millions of lives with the President's Emergency Plan for AIDS Relief.
'The United States has really done wonderful work through the PEPFAR program, started under my predecessor, President Bush, and continued through our administration,' he said in Cape Town.
By contrast, Mr Obama has only visited Africa once before during his presidency, and has not prioritised the continent despite the fact that his father was from Kenya.
'We could do even more with more resources. But if we're working smarter, the amount of good that we can bring about over the next decade is tremendous.'
Foreign policy adviser Ben Rhodes said that having both leaders in one African country at the same time 'sends a very positive message that both political parties in the United States share a commitment to this continent'.
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