Banderas and Griffith are hosting a fundraising soiree for the President's reelection campaign at their Los Angeles home Oct. 24, according to an invitation from Obama's reelection campaign.
The event, which is being presented by Latino group Futuro Fund, will be co-hosted by "Desperate Housewives" star Eva Longoria.
Obama will be in attendance, as will Los Angeles mayor Antonio Villaraigosa and San Antonio mayor Julian Castro.
Tickets to the bash range from $5,000 to $35,800 -- which includes a photo reception for two.
Based in Austin, the Futuro Fund "is a collective effort to engage our community through philanthropy and leadership," according to the group's website.
Obama supporter Longoria lashed out at the president's opponents in September, saying during an interview with Jimmy Kimmel, "He keeps getting beat up lately because there's such an extremist movement. And for me, it's very dangerous because its not the character of America."
The President has appointed the actress to a board that is creating a National Museum of the American Latino.
Griffith has also done her part for Obama in the past, making donations to then-candidate Obama during the 2008 primaries and his election effort in the general election.