The Obamas will produce a diverse mix of content, including the potential for scripted series, unscripted series, docu-series, documentaries and features.
These projects will be available to the 125 million member Netflix households in 190 countries.
The Obamas have established Higher Ground Productions as the entity under which they will produce content for Netflix.
“One of the simple joys of our time in public service was getting to meet so many fascinating people from all walks of life, and to help them share their experiences with a wider audience,” said President Obama.
“That’s why Michelle and I are so excited to partner with Netflix – we hope to cultivate and curate the talented, inspiring, creative voices who are able to promote greater empathy and understanding between peoples, and help them share their stories with the entire world.”
Michelle added: “Barack and I have always believed in the power of storytelling to inspire us, to make us think differently about the world around us, and to help us open our minds and hearts to others.
“Netflix’s unparalleled service is a natural fit for the kinds of stories we want to share, and we look forward to starting this exciting new partnership.”
As Netflix point out, Barack and Michelle Obama are among the world’s most "respected and highly-recognized public figures".
"And (they) are uniquely positioned to discover and highlight stories of people who make a difference in their communities and strive to change the world for the better,” said Netflix Chief Content Officer Ted Sarandos.
“We are incredibly proud they have chosen to make Netflix the home for their formidable storytelling abilities.”