Chicago, Tokyo, Rio de Janeiro and Madrid are the candidate cities and a final appeal will be made by representatives for each of them prior to the voting by IOC members.
President Barack Obama is scheduled to speak to the IOC on behalf of Chicago's bid.
"The winner will be entrusted to deliver one of only a handful of truly global events that has the ability to bring together the vast majority of humanity in a celebration not just of sporting success, but also of human achievement," IOC President Jacques Rogge said at the opening of the Olympic Congress.
The Summer Olympics were last held in the United States in 1996, when Atlanta was the host city. The only other American host cities for the Summer Olympics have been St. Louis (1904) and Los Angeles (1932 and 1984).
Tokyo hosted the Games in 1964. The Olympics have never been held in Rio de Janeiro or Madrid. London will host the Games for the third time in 2012.