"We need his leadership, and the president is very confident that the chairman will be confirmed," David Axelrod said on CNN's "State of the Union."
Axelrod praised Bernanke's "very strong and steady leadership" during the economic crisis that began in 2008, saying without it, the nation's economy may have "slipped into the abyss."
However, some members of the Senate Democratic caucus, led by independent Bernie Sanders of Vermont, said last week they would oppose Bernanke's confirmation for a second term.
The news contributed to a downturn in U.S. financial markets and prompted Senate leaders including Dick Durbin of Illinois, the second-ranking Democrat, to publicly endorse the Bernanke nomination.
Axelrod said Obama has been speaking with Senate leaders and that "the readings he's getting in his conversations is that Chairman Bernanke will be confirmed."
Senators interviewed on Sunday talk shows demonstrated divided feelings, with some expressing support and others opposition to Bernanke's nomination.
On CNN, Democratic Sen. Robert Menendez of New Jersey and Republican Sen. Orrin Hatch of Utah both said they will vote to confirm Bernanke, while Republican Sen. John Cornyn of Texas said on "FOX News Sunday" he'll oppose the chairman. Republican Sen. John McCain of Arizona also told the CBS' "Face the Nation" that he has reservations about a second term for Bernanke.
Updated: 12:46 p.m.