Mr Obama will travel to the capital Addis Ababa in late July to meet with the Ethiopian government and African Union leaders.
The president will be in Kenya before that on a previously announced trip, visiting his father’s homeland for the first time as leader.
He has previously visited Ghana, Egypt, Senegal, Tanzania, and South Africa.
The US leader will participate in a global entrepreneurship summit while in Kenya.
In Ethiopia, he will discuss how to “accelerate economic growth, strengthen democratic institutions, and improve security,” White House press secretary Josh Earnest told reporters.