Obama and his wife Michelle released a joint statement paying tribute to Clark, who passed away on Wednesday (April 18) after a heart attack.
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"Michelle and I are saddened to hear about the passing of Dick Clark," Obama said. "With American Bandstand, he introduced decades' worth of viewers to the music of our times.
"He reshaped the television landscape forever as a creative and innovative producer. And, of course, for 40 years, we welcomed him into our homes to ring in the New Year."
Obama continued: "But more important than his groundbreaking achievements was the way he made us feel - as young and vibrant and optimistic as he was.
"As we say a final "so long" to Dick Clark, America's oldest teenager, our thoughts and prayers are with his family and friends - which number far more than he knew."
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Picture gallery - Dick Clark: Career in pictures