"This week, we made it official-I'm going to Cuba. When Michelle and I go to Havana next month, it will be the first visit of a US president to Cuba in nearly 90 years," Obama said in his weekly radio and web address to the nation.
"My visit will be an opportunity to keep moving forward. I'll meet with President Castro to discuss how we can continue normalising relations, including making it easier to trade and easier for Cubans to access the Internet and start their own businesses," Obama said.
He said that engaging with the Cuban people is the best way to advance American interests and values.
"I've always said that change won't come to Cuba overnight. But as Cuba opens up, it will mean more opportunity and resources for ordinary Cubans. And we're starting to see some progress," he said.
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"American companies are starting to do business in Cuba, helping to nurture private enterprise and giving Cuban entrepreneurs new opportunities. With new Wi-Fi hotspots, more Cubans are starting to go online and get information from the outside world,"he said.
In both the countries, he said, there's overwhelming support for this new relationship.
And in Cuba today, for the first time in a half century, there is hope for a different future, especially among Cuba's young people who have such extraordinary talent and potential just waiting to be unleashed, he noted.