The former US president, who has repeatedly spoken about being a feminist, said living standards would substantially improve if women were in charge of every country in the world.
Obama, who left the White House in 2017, discussed what the world would look if it was ruled by women at a talk about leadership in Singapore.
He said: “Now women, I just want you to know, you are not perfect, but what I can say pretty indisputably is that you are better than us [men].
“I’m absolutely confident that for two years if every nation on earth was run by women, you would see a significant improvement across the board on just about everything… living standards and outcomes.”
Asked whether he would contemplate becoming a political leader again, he argued leaders must retreat when they have been in power for a long time.
He said: “If you look at the world and look at the problems it’s usually old people, usually old men, not getting out of the way.
“It is important for political leaders to try and remind themselves that you are there to do a job, but you are not there for life, you are not there to prop up your own sense of self importance on your own power.”
Obama emphasised the importance of gender equality during his time in the White House, and was a keen proponent of women’s reproductive rights.
He wrote an essay for Glamour magazine in 2016 about the meaning of feminism and society’s obligation to make sure women and men are given equal opportunities.
The ex-president and former first lady Michelle Obama have established a foundation which mentors young leaders across the world since departing the White House.
He has been writing a presidential memoir which is not expected to be released until next year. Michelle’s book Becoming became one of the most popular memoirs in history after it came out last year, selling over 11 million copies.