"My dad is living with me," the 40-year-old Oscar winner revealed to "HuffPost Live" on Thursday. "I'm his sole caretaker right now."
Swank said she has even put work on hold in order to care for her father, Stephen Swank, as he recovers.
"It's a certain amount of time [to serve as a caretaker], but in a lifespan it's a blink of an eye," Swank said. "There’s been job opportunities I've passed on, and things that I said 'I can't,' but really what we're here for is our family."
Making the decision to do so wasn't hard, she said.
"There is nothing I want to do more other than being with my dad in this time of need," the "Million Dollar Baby" actress said. "And if it wasn't me taking care of him, I think I would always look back and regret that opportunity to be able to care of him and help him through this extraordinary time."
She called it a "true honor."
The time spent together has also brought Swank and her father closer together. The pair weren't always so close, especially during Swank's younger years.
"We're super close," she said. "The bond that we've made in this time, might make up for some of that time we didn't have. We didn't have that one-on-one time together. It's actually kind of healing."
Meanwhile, father and daughter are making new memories.
"He's good-natured and giving. He has a great sense of humor. It's easy to be with my dad," she said. "It's easy to hang out. He's an easy guest to have in my home."
On Father's Day, Swank posted a photo of her and her dad on the beach.
"#HappyFathersDay to my dear Father!" she wrote. "And, to all the Fathers out there! Today and always we cherish you!!"