"We have not failed and will continue our efforts," Hosni Mubarak said after talks with his Israeli counterpart Shimon Peres in the Red Sea resort of Sharm el-Sheikh.
A month ago, Egyptian-mediated talks between Hamas and Israel on a prisoner swap failed following disagreements over prisoner numbers.
Hamas is demanding the release of 1,400 Palestinian prisoners in exchange for Shalit.
Mubarak said Israel was aware of Egypt's efforts to try and win Shalit's freedom and he expressed his hope that they would lead to success.
Shalit was captured on the border with the Gaza Strip in June 2006 by Hamas militants.