The visit for a Persian Gulf summit comes against the backdrop of increasingly strained US relations with the Saudis, who remain deeply opposed to his outreach to Iran and skeptical of his approach to Syria.
Under crystal chandeliers, the Saudi monarch greeted Obama in a grand foyer at Erga Palace, where the two walked slowly to a reception room as the small of incense wafted.
The two offered polite smiles as they sat down side by side for pictures at the start of their private meeting.
King Salman, speaking through a translator, offered similarly gracious words for the president, who is paying his fourth trip here for face-to-face meetings and photos with royal rulers since becoming president.
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"The feeling is mutual between us and the American people," the king said.
The president was slated to spend little more than 24 hours in the Saudi capital before heading on to visits to London and Hannover, Germany.
Stepping off of Air Force One earlier at King Khalid International Airport, Obama was greeted on a red carpet not by King Salman but by Prince Faisal bin Bandar bin Abdulaziz Al Saud, the governor of Riyadh.
Before Obama landed, Saudi state television did not immediately air Obama's arrival, but showed the king greeting other senior officials from Gulf nations arriving for the summit.
The Sunni Muslim-ruled kingdom, the world's biggest oil exporter and the largest buyer of American-made weapons, sees Shiite-led Iran as its main rival. Saudi leaders are concerned that concessions granted to Iran in last year's nuclear deal will embolden it to pursue what the Saudis view as aggressive meddling throughout the region.
Salman's reign has overseen a more assertive foreign policy, with Saudis venturing into Yemen and pushing the US to take more aggressive moves to overthrow Syrian President Bashar Assad.