The details of the meeting are to be fixed on Wednesday, when Ahmed Abul Gheit, the Egyptian foreign minister, arrives in Israel.
Olmert phoned Mubarak on Sunday to update him on his talks with Abbas. Last week, Olmert paid a surprise visit to Jordan to discuss the dormant peace process with King Abdullah II.
Diplomatic sources said that there were no plans for a regional summit that could include Olmert, Mubarak, Abbas and King Abdullah. Olmert has said in the past that he did not rule out such a gathering.
On Monday, Olmert told his Kadima faction: "We are a party which seeks a peace process. Diplomacy is a lengthy process, and not without risks. I hope that [the talks last weekend with Abbas] will be an opening to further meeting.