According to the New York Times,

The Obama administration will continue the Bush administration’s practice of sending terror suspects to third countries for detention and interrogation, but will monitor their treatment to ensure they are not tortured.

I'm unclear as to the point of continuing the practice, since the point of renditioning suspects in the first place was to torture them.  The "Extraordinary Rendition" practiced by the Bush administration, was, after all, "a procedure whereby criminal suspects were sent for interrogation from one country to a second country, where less strict laws governing interrogation apply."

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The more things change,
the more they stay the same.
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To be fair to Obama, both Reagan and Clinton authorized the CIA to use Extraordinary Rendition to apprehend terrorists and presumably to obtain intelligence.  It was not until Bush, though, that the policy became a regular thing.  It's not surprising when a president continues a policy one before him got away with, especially when it expands or augments the power of his office.  But many thought Obama would be different. And I have to admit, there is something more disturbing about an Obama administration pursuing Bush policies than the Bush administration doing so.

Fact is, Obama has not just squandered opportunities to overturn Bush's terror policies, he has actually gone out of his way to keep them.  He has upheld  the invocation of "state secrets," repudiating his promise of transparency, and despite early hopes of a swift change in moral leadership, Gitmo has not been shuttered.  The US under Obama is still flouting the Geneva Conventions.

When it comes to the War on Terror, or whatever we're calling it now, it looks like the more things change, the more they stay the same.