The meeting with the Myanmar leader was not initially in his schedule and was added only early in the morning.
This would be the first meeting between the two leaders. However, Obama has spoken with Suu Kyi after her release from house arrest in 2010. Both are Noble laureate.
The meeting, the White House said, was closed for the press with still pictures allowed at its start.
Early in the day, Suu Kyi met top Congressional leaders before receiving Congressional Gold Medal, the highest civilian award being given by the US Congress.
Mohamed Yunus of Bangladesh was the last foreign dignitary to receive the Congressional Gold Medal in 2010.