The president said he will personally select the person who takes on that post, and "will depend on this official" in all matters related to cybersecurity.
Tackling the economic crisis cannot be done without ensuring the safety of the nation's online activities, Obama said.
CNN Radio reports: Obama announces new cybersecurity post
He referred to last year's hacking of computers at his campaign headquarters. The hackers did not access databases containing information about campaign donors, but did gain access to policy position papers and travel plans, Obama said.
"I know how it feels" to have online privacy violated, the president said.
CNN reported in November that computers at the headquarters of Obama's rival for the presidency, Sen. John McCain, had been broken into with similar results.