Later on Wednesday, Obama will meet at the White House with former prisoners who have previously received commutations.
The announcement comes as the Obama administration has been pushing to change the US criminal justice system by reducing sentences for non-violent criminals. The efforts are intended to ease overcrowding in prisons in the United States and help prisoner transition back to society.
Last July, Obama became the first sitting US president to visit a federal prison when he toured the El Reno Federal Correctional Institution in the state of Oklahoma.
The United States has the largest prison population in the world with nearly 2.2 million imprisoned individuals and an additional 4.5 million placed on probation or parole.
About half of all inmates have been imprisoned for non-violent drug-related offences, according to the US Bureau of Justice Statistics.
