Boldface names present Monday night at the Fig & Olive restaurant included actors Eva Longoria, Gina Gershon, Jack Black, Danny DeVito and Rhea Perlman, director Judd Apatow and screenwriter Aaron Sorkin.
DreamWorks CEO Jeffrey Katzenberg introduced Obama.
About 120 guests paid $17,900 each to attend.
Jon Landau, who produced "Avatar" and "Titanic," told reporters Hollywood is still very positive about Obama even though the rest of the country may not feel the same way.
The president asked the crowd to renew their support and said, "Don't get tired on me now."
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