Obama, who will make a historic trip to Cuba next week, said there was not enough support among lawmakers to lift the embargo now, but sentiment was moving in that direction in both parties.
"My strong prediction is that sometime in the next president's administration, whether they are a Democrat or a Republican, that the embargo in fact will be removed," he said in the interview, according to a transcript.
The interview was conducted last week.
"It makes sense for us to be able to sell into Cuba, to do business with Cubans, to show us business practices and how we treat workers and how we approach issues of human rights, that will help bring about the kinds of changes that are needed," he said.
Obama leaves office next January.