If the plan materialises, "it will have huge repercussions for the two countries", a Bahraini official, requesting anonymity, said in his country's capital Manama.
The meeting in Manama is the commission's first in nearly two years.
Other plans for cooperation, especially on economic issues, will also be discussed by the two sides, the source said.
The commission was formed after a decades-old territorial dispute between Bahrain and Qatar was resolved by the world court in March 2001.
Relations between Manama and Doha have been chilly since the commission last met in 2002. One of the problems is believed to be Qatar's frequent arrest of Bahraini fishermen after they stray into its territorial waters.
Bahrain has very close links with Saudi Arabia, which has often had tense relations with Qatar. Riyadh and Manama have frequently been irked by coverage on the Doha-based Al-Jazeera satellite news channel of issues linked to them.