Speaking at a press conference on Monday, the US President told how he has been taking the drug once a day "for about a week and a half".
Mr Trump has pushed hydroxychloroquine publicly on several occasions as a potential cure for coronavirus, despite repeated warnings from US public health officials that its effect on the virus remains largely unknown.
Despite this, the US leader told reporters on Monday: "I started taking it, because I think it's good... I've heard a lot of good stories."
Mr Trump said that the White House doctor did not recommend hydroxychloroquine to him. He added that he requested the drug from his own doctor.
Asked if he was worried about possible side effects, he told reporters: "All I can tell you is, so far I seem to be OK."
Mr Trump said: “I’m not gonna get hurt by it. It’s been around for 40 years,” he added.
“For malaria, for lupus, for other things. I take it. Front-line workers take it. A lot of doctors take it — excuse me, a lot of doctors take it. I take it.”
Mr Trump told reporters that he doesn’t own shares company that produces the drug, saying instead that he wants “the people of this nation to feel good.”
He went on: “I don’t want them feeling sick. And there’s a very good chance that this has an impact, especially early on.
“I take a pill every day. At some point I’ll stop. What I’d like to is I’d like to have the cure and or the vaccine and that’ll happen I think very soon,” he said.
Mr Trump continued: “It seems to have an impact, and maybe it does, maybe it doesn’t. But if it doesn’t, you’re not going to get sick or die. This is a pill that’s been used for a long time, for 30, 40 years.”
Hydroxychloroquine remains unproven as a treatment for coronavirus in clinical trials. Several studies in various countries have found that it provides no benefit to coronavirus patients and may have side effects.
No cure has yet been found for Covid-19.