The pair are now in quarantine with the US election just weeks away.
Mr Trump confirmed the news on Twitter in the early hours of Friday, after close aide Hope Hicks tested positive for the virus.
He tweeted: “@FLOTUS and I tested positive for COVID-19. We will begin our quarantine and recovery process immediately. We will get through this TOGETHER!”
Melania Trump meanwhile tweeted that both “are feeling good & I have postponed all upcoming engagements”.
Mr Trump's physician Sean Conley released a statement stating that the President and First Lady "are both well at this time, and they plan to remain at home within the White House during their convalescence".
Did family members wear masks at presidential debate?
"Rest assured I expect the president to continue carrying out his duties without disruption while recovering, and I will keep you updated on any future developments."The news comes just days after President Trump, 74, participated in the first presidential debate of the election campaign.
The First Lady, 50, and much of Mr Trump's family were in the audience in support with many, including sons Eric, Donald Jr. and daughters Ivanka and Tiffany, choosing not to wear protective face coverings.
It is unclear if anyone else in Mr Trump's family has received a positive diagnosis for Covid-19.
What has Mr Trump said about coronavirus?
Mr Trump has played down the impact of coronavirus in recent weeks, just the other day saying "it affects virtually nobody" except the elderly and the vulnerable.
Mr Trump has also typically ignored official advice on the use of face coverings.
It is not clear how the remainder of the campaign will be impacted by the shocking news, with a second debate scheduled to take place on October 15.
What has Joe Biden said?
Mr Biden has yet to react to the news, though his last tweet from Thursday night condemns the presdient's handling of the coronavirus pandemic.
He tweeted: "Donald Trump will do everything he can to distract from the fact that because of his failed COVID-19 response: - Over 200,000 Americans have died - 26 million are on unemployment - 1 in 6 small businesses risk permanent closure
"We can’t let him."
What does it mean for the US election?
First and foremost the diagnosis will bring an end to Mr Trump’s in-person campaigning as he quarantines at the White House.
The next US presidential debate is under two weeks away, and could be delayed.
A US election has never been delayed since the signing of the US constitution in 1787.
If Mr Trump’s condition was to deteriorate he would be required to personally relinquish the nomination in order to lose it.
At this stage the Republican party would be required to select a replacement candidate. This could occur anytime in the lead up to the election even after absentee and early voting is underway.
When are the next presidential debates scheduled?
The remaining debates are scheduled for 15 October and 22 October, and are set to take place in Miami and Nashville, respectively. It is unclear if they will be impacted by Mr Trump’s condition.
How many cases and deaths in US from coronavirus?
The United States continues to record tens of thousands of cases everyday, with 43,981 recorded on October 1.
The number of deaths registered on the same day was 861, with 1,017 recorded a day earlier.
Thus far 7.3 million positive cases have been recorded, with 208,000 deaths relating to coronavirus also confirmed.
Source: Scotsman
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