"With this historic vote, the Senate has affirmed that Judge Sotomayor has the intellect, the temperament, the history, the integrity and the independence of mind to ably serve on our nation's highest court," Obama said.
The president spoke at the White House just after the Senate voted 68-31 to confirm Sotomayor to replace retired Justice David Souter. She is also the third woman named to the high court.
Obama alluded to Sotomayor's ethnic heritage.
"Core American ideals -- justice, equality and opportunity -- are the very ideals that have made Judge Sotomayor's own uniquely American journey possible," he said.
"They're ideals she's fought for throughout her career and the ideals the Senate has upheld today in breaking yet another barrier and moving us yet another step closer to a more perfect union."
Obama said he has no doubt she will make an "outstanding Supreme Court justice"
"This is a wonderful day for Judge Sotomayor and her family, but I also think it's a wonderful day for America," he said.
Obama thanked the Senate Judiciary Committee and its chairman, Sen. Patrick Leahy, D-Vt.
Asked if he was satisfied with the 68 votes for Sotomayor's confirmation, Obama replied, "I'm very happy."