Obama says in a statement provided to The Associated Press that his administration has "an urgent obligation" to respond.
The president is giving military leaders a year to report on their progress in responded to the crime, including in the military justice system.
The president's remarks are his first on legislation that would crack down on sexual assault passed by the Senate yesterday.
Obama says if he doesn't see progress, he will consider further reforms to, quote, "eliminate this crime from our military ranks."