The Combined Commanders' conference of the three Services is expected to discuss ceasefire violations by Pakistan and developments on China border.
Modi will address the conference during which he is expected to outline his strategic vision to the military directly, defence ministry sources said.
This will be the Prime Minister's first meeting with all top commanders here at the defence ministry headquarters.
The situation along the Pakistan border and the Line of Actual Control with China is also expected to come up for discussion in the conference against the backdrop of recent developments.
Pakistan has been repeatedly violating the ceasefire along the International Border and Line of Control ( LoC) for nearly two weeks and India has been retaliating with major force.
There were fears of escalation but the firing and shelling has receded over the past few days.
Chinese troops also indulged in incursions in various places of Ladakh, including during the visit of President Xi Jinping here last month.
As the chairman of Chiefs of Staff Committee, Air Force chief Arup Raha will be the first to brief the Prime Minister on the issues of concern for the three forces.
Navy chief RK Dhowan and Army chief Dalbir Singh Suhag will also outline the challenges in respect to international, and regional scenario.
The day-long conference will also be addressed by Defence Minister Arun Jaitley, External Affairs Minister Sushma Swaraj and Home Minister Rajnath Singh.