The White House said today that Obama would consider the measure as part of a new effort to close the controversial facility that he promised during a press conference yesterday.
But the administration also made clear that it would not be able to achieve the closure of the prison in Cuba, while Congress continues to throw up obstacles.
"There are a number of things that we can do," said White House spokesman Jay Carney.
Earlier this year, the State Department reassigned Daniel Fried, who was the envoy for closing Guantanamo Bay, and he has so far not been replaced.
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With most of the remaining 166 inmates at Guantanamo Bay now on hunger strike, Obama said today that the camp was no longer sustainable and was not in America's national security interests.
But he also condemned Congress for thwarting plans to bring inmates to the US mainland and for imposing funding constraints which are making it more difficult to transfer detainees who have been cleared for release abroad.
"There are things that the president can do administratively, but this will also require congressional agreement," Carney said.
"We will work with Congress to try to persuade them of the overriding national security interest as well as economic interest in closing Guantanamo Bay."
Carney said all policy towards Guantanamo Bay would be evaluated, including the current moratorium on returning inmates to Yemen, which represent about half of the camp's population, to their homeland.
The administration reasons that the chaotic situation in Yemen and limited security capability of the government would mean that the risk of released detainees returning to or joining radical groups is too great.