"Sport is so important to people around the world so I hope this is going to engage the American people, especially Obama," the eccentric former Chicago Bulls star told reporters at Beijing airport, on his way to Pyongyang.
Rodman is organising an exhibition game between North Korea and a team of mainly ex-NBA players on January 8, to mark the birthday of reclusive leader Kim Jong-Un.
The young ruler, who was educated in Switzerland, is reported to be a keen basketball fan and especially of the Chicago Bulls, for whom Rodman played a key role in winning three NBA titles alongside Michael Jordan in the 1990s.
Obama, a keen basketball player, is also known to be a die-hard fan of the team, who are based in the city where the US president forged his early political career.
The heavily tattooed Rodman has developed an unlikely relationship with the North Korean leader since making his first trip there in March, when he declared Kim a "friend for life".
Earlier this month Kim had uncle and former mentor Jang Song-Thaek executed in a surprise move, but Rodman distanced himself from political events in the country.
The ex-NBA team is expected to be announced during Rodman's visit to the reclusive state, his third of the year.
Rodman brushed aside official warnings by the US government to its citizens not to travel to North Korea, saying "there is nothing I can do about that" and adding that "if something happens it is beyond my control".
He also said he would have "a good conversation" with Kim "to help the world", without elaborating.
Accompanying Rodman to Pyongyang were Irish bookmakers and trip sponsors Paddy Power -- which has said the match schedule had not been affected by political events -- and a television documentary crew.
"Dennis is just doing this. We never discuss that (payment) but we are not paying him for this," he said.
Pyongyang is holding a US citizen, Kenneth Bae, who was sentenced to 15 years in jail on charges of trying to topple the North Korean regime, but US officials said earlier this week that they had not been in touch with Rodman over the visit and he did not represent the US government.
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