The dinner in the Scottish capital Edinburgh on May 26 is thought to be one of his first major addresses since his term as president ended in January.
He will also answer questions from the audience at the event, which is to be held to raise money for charity.
Obama, 55, is expected to give one of his highest profile speeches since leaving office at a charity event organised by The Hunter Foundation.
Tickets for a table of 10 at the dinner are expected to go on sale for approximately 5,000 pounds.
All of the cash raised will be split between children's charities in Scotland and the Obama Foundation, set up by the former president and his wife Michelle.
Sir Tom also plans to set aside some seats at the event for local young people, the BBC reported.
"We are both truly proud and delighted to be hosting the 44th president of the United States in Scotland at this event."
He told the Press Association he is "really chuffed" that Obama is coming to Scotland.
"We're always looking for really inspiring speakers to come along to Scotland, and really inspire and inform," he said.
"To be able to get president Obama, we're really chuffed."
He said: "President Obama loves his music, so we're getting some interesting guests," the report said.
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