The meeting held at the Oval Office of the White House is their second bilateral meeting after the last round of talks in 2013.
"The visit will highlight the enduring nature of the US- Pakistan relationship and provide an opportunity to strengthen our cooperation on issues of mutual interest, including economic growth, trade and investment, clean energy, global health, climate change, nuclear security, counter-terrorism and regional stability," the White House said in a statement.
Ahead of the meeting, Pakistani officials said that Sharif would raise the Kashmir issue with Obama.
"During the Prime Minister's visit, we will talk about the tension with India on the Line of Control," Foreign Secretary Aizaz Ahmad Chaudhry said on Monday.
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"It is the responsibility of the US and the international community to help resolve the problem of Kashmir, which was the main issue with India," he added.
Sharif, on his part, sought "third party intervention" in the Kashmir issue, telling American senators here that the US was the "most relevant" party to get involved in the matter.
Pakistan has already submitted three dossiers on India's alleged role in "subversive activities" in the country ahead of the high-level interaction.
Sharif in his meeting with US Secretary of State John Kerry yesterday also briefed him about the "destabilising role of Indian agencies in FATA, Balochistan and Karachi".
"We have done enough (in the fight against terrorism). Do not talk of doing more," Chaudhry said, adding that it is time for the rest of the world to "do more" in this regard.
There have also been concerns raised over the safety of Pakistan's existing nuclear arsenal as well as the pace at which such weapons are being produced.