The US leader was saved shortly before his car was due to drive over a bridge in Manila where a bomb had been planted.
The foiled attack came during Mr Clinton's visit to the Asia Pacific Economic Cooperation forum in the city in 1996.
At one point during his stay, he was scheduled to visit a local politician, his route taking him across a bridge in central Manila.
But as the presidential motorcade was about to set off, secret service officers received a "crackly message in one earpiece" saying intelligence agents had picked up a message suggesting an attack was imminent.
The transmission used the words "bridge" and "wedding" – a terrorists code word for assassination.
The motorcade was quickly re-routed and American agents later discovered a bomb had been planted under the bridge.
The subsequent US investigation into the plot "revealed that it had been masterminded by a Saudi terrorist living in Afghanistan – a man named Osama bin Laden".
Although al Qaeda members have admitted targeting Mr Clinton in the 1990s, no evidence has previously emerged suggesting the group's leader was involved or that the terrorists came close to succeeding.
Ken Gormley, an American law professor, said he was told by Louis Merletti, the former director of the Secret Service, of the bomb plot.
In The Death of American Virtue: Clinton vs Starr, Prof Gormley wrote: "The thwarted assassination attempt was never made public.
"It remained top secret except to select members of the US intelligence community."
At the time, there were media reports about the discovery of two bombs, one at Manila airport and another at the venue for the leaders' meeting.
However, they were linked to a communist insurgency in the Philippines rather than as an external attempt to kill the US president.
A spokesman for the Secret Service refused to comment on Prof Gorman's allegations.
Commentators in the US questioned why the Clinton administration would keep quiet about the assassination attempt when it later needed to justify missile attacks on al-Qaeda training bases.
It could also have ramifications for the widely-held assumption that the Bush regime could not have anticipated the September 11 terror attacks.
Ramzi Yousef, the al-Qaeda member who used a truck bomb to attack the World Trade Centre in 1993, has admitted he plotted to assassinate Mr Clinton after fleeing to Manila, but was dissuaded by his high level of security.
Khalid Sheikh Mohammed, the self-described 9/11 mastermind, also lived in the Philippines in the mid-1990s and has admitted he considered trying to kill Mr Clinton.
The president and his national security team have been accused of passing up several opportunities to capture bin Laden and his associates in the 1990s when they were living in Sudan.
Mr Clinton has rejected such claims, insisting he was "obsessed" with the al-Qaeda leader during his time in office.
In the years leading up to the September 11 attacks, al Qaeda was blamed for bombing two US embassies in Africa and attacked the destroyer, the USS Cole.
However, Marisa Porges, a former government counter-terrorism advisor and an expert at the Council on Foreign Relations, a US think tank, said the assassination plot, if true,would suggest al Qaeda was more developed than some thought it was prior to 9/11”.
Hillary Clinton, the US Secretary of State, said earlier this month that it was important to capture bin Laden, a goal that some believe has slipped down America's list of priorities in the years since the September 11 attacks.
Prof Gormley’s book, for which he interviewed Mr Clinton three times, focuses mainly on the former president’s pursuit by Ken Starr, the independent counsel.
Mr Starr’s conclusion that Mr Clinton lied during a sworn deposition about his affair with Monica Lewinsky led to the president’s impeachment.
Clinton arrives in Philippines for trade summit
November 23, 1996
Web posted at: 1:30 p.m. EST (1830 GMT)
MANILA, Philippines (CNN) -- President Bill Clinton arrived in the Philippines Saturday before the start of a trade summit with Pacific Rim nations aimed at creating the world's largest free trade zone.
But the most important part of his two-day visit may well be a private meeting Sunday with Chinese President Jiang Zemin. The Asia-Pacific Economic Cooperation summit is Monday.
World leaders and trade ministers representing the 18 nations of the Asia-Pacific Economic Cooperation organization (APEC) will meet in Subic Bay, near Manila, on Monday. The gathering brings together nations that comprise 46 percent of the world's trade.
Fresh from a state visit to Australia, Clinton hopes to foster better relations with China at a time of troublesome differences on issues such as trade, human rights and American arms sales to Taiwan. The economic stakes were underscored when the U.S. government reported this week that its trade deficit with China had widened to an all-time high of $4.7 billion in September.
Developing better ties with China is crucial to global trade, Clinton said. In a speech to Australia's parliament last Tuesday, he said the shape of the 21st century lies heavily in "the direction China takes in the years to come."
Clinton and Jiang are expected to announce an acceleration of talks concerning China's application to become a member of the World Trade Organization, which sets the rules for global trade. China has been trying to join for more than two years, but the United States has blocked the effort, arguing that Beijing has done little to dismantle barriers to free trade.
The two leaders could even announce plans to meet with one another in each other's capitals.
Following Sunday's meeting, Clinton is to meet with Japanese Prime Minister Ryutaro Hashimoto and South Korean President Kim Young Sam in separate talks.
Security tight
Security has been beefed up throughout the Philippines as delegates prepare for Monday's talks. Some 26,000 police and soldiers have been assigned to protect the dignitaries. The United States has warned its citizens to be aware of possible terrorist attacks.
Marches and protests involving thousands of demonstrators have been planned Sunday to protest the summit. As part of the summit, APEC hopes to remove trade barriers among the member economies to liberalize trade by 2010 for developed countries and 2020 for developing nations.
But many people have angrily denounced APEC's goals, saying they represent self-serving trade efforts by the United States, Canada, Australia and New Zealand.
Walden Belo of the Manila People's Forum points to Mexico as an example of how powerful nations have economically crippled smaller nations. Since Mexico joined the North American Free Trade Agreement, Belo said, Mexico has suffered from an "economic meltdown." (195K/16 sec. AIFFor WAV sound)
Not so, Washington contends. State Department spokesman Nicholas Burns says when the U.S. and other countries cooperate, both sides gain. (112K/11 sec. AIFF orWAV sound)
Commerce Secretary Mickey Kantor added that by removing trade barriers it "opens markets to U.S. products" that leads to continued "global growth."
APEC members are Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, Malaysia, Mexico, New Zealand, Papua New Guinea, the Philippines, Singapore, South Korea, Taiwan, Thailand and the United States.
From the Philippines, Clinton travels to Thailand for a brief state visit.
Related stories:
- Security alert for U.S. citizens in Philippines - November 22, 1996
- Manila under heavy security for APEC meetings - November 21, 1996
- Philippine government says 'pipe bomb' part of drill - November 20, 1996
- Bomb found near APEC meeting site - November 20, 1996
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Philippine government says 'pipe bomb' part of drill
November 20, 1996Web posted at: 11:45 p.m. EST (0445 GMT)
MANILA, Philippines (CNN) -- A pipe bomb discovered at Subic Bay on Wednesday was just part of a drill, and not a threat to a forthcoming summit of world leaders, Philippine officials said.
The bomb, which had no detonator, was discovered by janitors about 600 feet (200 meters) from the main gate of the base, Honesto Islepa, press undersecretary in the Philippines Presidential Office, told CNN.
He said the bomb was put there in order to test alertness of security personnel at the base.
Foreign and trade ministers of the Asia-Pacific Economic Cooperation (APEC) forum were to begin arriving Thursday for talks to prepare for the APEC summit that begins Monday. President Clinton is among the leaders planning to attend.
The ministers meeting is to be held in Manila and the summit of 18 APEC member economies at Subic Bay freeport northwest of the capital.
Reuters contributed to this report.
Security alert for U.S. citizens in Philippines
Web posted at: 3:20 p.m. EST (2020 GMT)
From Correspondent Steve Hurst
MANILA, Philippines (CNN) -- U.S. citizens in the Philippines are being warned to take security precautions because of threats against American diplomats during the Asia-Pacific Economic Cooperation conference, which began this week and concludes with a summit meeting Monday.
"We have general information that a group of people may be targeting American individuals here," State Department spokesman Nicholas Burns told reporters in Manila.
Burns declined to give additional information about what group or groups may have issued the threats, when they were discovered and what specific threat was involved.