The FBI said the suspicious package was found at the First Couple's residence in Westchester County in the suburbs of New York City, at 1am (local time) addressed to Hillary Clinton.
The device was discovered by a technician who screens mail for Bill and Hillary Clinton, according to officials.
It comes at the same time US secret services said it intercepted a suspicious package sent to Mr Obama's office in Washington just a few hours after the discovery at the Clinton's residence.
The FBI and ATF are investigating also investigating a explosive device discovered at a residence owned by billionaire philanthropist George Soros.
The device was found at around 3:45 p.m. Monday.
Police said an employee at the residence in the Katonah section of Bedford opened a package found in a mailbox. When it appeared to be an explosive device, the employee put the package in a wooded area and called 911.
“The officers did exactly what they were trained to do: Responded to the scene, set up a perimeter, contacted appropriate resources to further the investigation,” said Bedford Police Chief Melvin Padilla.
An official tells the Associate Press investigators are reviewing surveillance video to determine whether the package had been sent through the mail or otherwise delivered. Sources told CBS 2 officials believe the package was dropped off and not mailed. Sources also said the device was similar in nature to a pipe bomb.
Authorities detonated it as a precaution.The device was found at around 3:45 p.m. Monday.
A law enforcement official told the Associated Press the device “had the components” of an actual bomb, including explosive powder.
A suspicious package was sent to Eric Holder but it had the wrong address and was returned to Rep. Debbie Wasserman Schultz’s office in Florida because that was the return label on the package, according to two law enforcement sources.
The same return address was used for the Clinton and Obama suspicious packages.
Separately, the George Soros packages is believed to have been placed in the mailbox, not mailed, according to a separate law enforcement source.
Earlier today: A law enforcement source and a federal source briefed on the investigation into the Soros package said it had the return address of Wasserman Schultz, a prominent Democratic member of Congress.
Here's the list of suspicious packages so far: