Obama called for better enforcement of existing gun laws, tighter background checks on gun buyers and for making an expired assault weapon ban permanent.
"A couple weeks ago, cops found an AK-47 near a West Side school," he said. "That type of weapon belongs on a battlefield, not on the streets of Chicago."
But Obama said the "power of the gun lobby in Washington" has blocked tougher gun laws and enforcement.
"If you want to go hunt, go hunt. Nobody is trying to take your shotgun or rifle away," he said. "But when you've got the gun lobbying saying that we can't use ballistics to trace back where guns came from ... then it is time for us to stand up to the gun lobby and say enough. It is time for a change in Washington."
Later in a brief meeting with reporters, Obama said he suspects the majority of National Rifle Association members are not opposed to some tighter restrictions.
"I believe that the majority of NRA members would not object to doing a background check from a bullet that has been used to kill a child on the South Side of Chicago, or the West Side, and find out who sold that gun," he said. "That's a law that's already in the books. The problem is that we're not enforcing it."
Obama also told reporters that he has never hunted, although he has fired a gun on a firing range.
"That wasn't part of my growing up, but I am sympathetic, as I say, to the fact that if you go down to Downstate Illinois, that's an important part of the culture there and people use guns responsibly in those situations."