According to the Constitution, the requirement is Natural Born Citizen.
Ill try to explain this so that everyone can understand it.
When one is born, his citizenship is determined by one of two factors:
1. Where he was born (the ‘Native’ claim) AND;
2. Of what country was the citizenship of his parents.
If both factors result in the citizenship of the same country, then there are no conflicting loyalties, and the newborn is naturally a citizen of where he was born.
Thus the term Natural Born Citizen is applied.
Get it?
From the Constitution, article 1 section 8 clause 4, one of the powers of Congress:
“To establish an uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States;”
They did this in USC Title 8 Section 1401.
Those meeting the definition in that title are eligible to be president.
Actually I believe the law was changed AFTER Obamas birth..at the time of his birth you had to be born on american soil..