"I'm not sure at this point if hearing more Barack Obama is going to be an asset or a liability," Thompson said. "We kind of know what his response is to this oil spill, we kind of know what he wants to tell us about extending [unemployment] benefits and about medical care -- all the things that he is talking about. I'm not sure if he's in a place right now where he needs to reiterate a message but needing to do things that people will consider moving things along."
The appearance is part of "The View's" Red, White & View series, which has featured prominent American politicians and discussions on current political issues. Vice President Joe Biden made a guest appearance in April.
This is not Obama's first time in the hot seat: He was a guest in March 2008 when he was running for the Democratic presidential nomination.
At the time, he faced questions about the controversy surrounding his former pastor, Rev. Jeremiah Wright.
He also promoted his first book, "Dreams from My Father: A Story of Race and Inheritance," in a 2004 appearance.
This time, Obama will face all five co-hosts, who come from a wide range of political views and backgrounds.
Barbara Walters, creator, executive producer and co-host of "The View," will return to the set for the president's appearance. She has been on medical leave after undergoing heart valve replacement surgery in May.
"We are so pleased and honored that President Obama will be a guest on 'The View,'" she said in a prepared statement.
The interview on "The View" gives the president a chance to try to reach out to female voters, but it's a tall order to expect one show to turn everything around for him.
ABC News' Devin Dwyer contributed to this report.