Bin Laden was shot dead at a compound near Islamabad, in a ground operation based on US intelligence, the first lead for which emerged last August.
Mr Obama said US forces took possession of the body after "a firefight".
Bin Laden is believed to have ordered the attacks on New York and Washington on 11 September 2001 and a number of others.
He was top of the US' "most wanted" list.
DNA tests later confirmed that Bin Laden was dead, US officials said.
Bin Laden was buried at sea after a Muslim funeral on board an aircraft carrier, Pentagon officials said.
Announcing the success of the operation, Mr Obama said it was "the most significant achievement to date in our nation's effort to defeat al-Qaeda". Read More
Source: http://www.bbc.co.uk/news/world-us-canada-13256676
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