"My position is that the United States should not have gone into Libya because again the last chapter isn't written. This is a snapshot in time," Bachmann said on ABC's "This Week."
Bachmann slammed Obama for taking action in Libya without the approval of Congress.
Overall, the GOP field has been reluctant to give Obama credit for his role in Libya since the killing on Col. Moammar Gadhafi earlier this month.
The Minnesota congresswoman said she is concerned that fighting and instability in the Libyan region could allow extremist groups to rise to power.
Bachmann told ABC that this is of particular concern in Libya because of its oil resources.
"Oil revenues as we know could potentially be used to further finance a global caliphate and extremist elements, so this is far from settled in Libya," she added.
During the interview on "This Week" Bachmann also discussed her victory in the Iowa Straw Poll as evidence of her presidential run's success and downplayed the importance of Iowa's caucuses to the campaign's future.
For more Bachmann's campaign strategy in Iowa, click here.