Entourage star Adrian Grenier, who played Vince in the HBO series, made the claim in a post on his Facebook page.
He uploaded a photograph of himself with the President and suggested that he had asked the Commander-in-Chief to appear in the upcoming movie.
"I promised to make the Entourage movie if he would do a cameo," Grenier claimed. "He agreed. Seriously."
Entourage star Jerry Ferrara said in 2009 that Obama was a fan of the show and joked that it would remain on air as long as he was in the White House.
Entourage actually aired its final season last year but the show's creator Doug Ellin promised that a movie based on the show was in the works.
Star Rex Lee recently said that a big-screen outing is even more likely after HBO decided not to pick up Ellin's pilot 40.
British band The Wanted have also been linked to a cameo in a potential Entourage movie.