Peres was to receive the results of last week's general elections late in the day from Justice Elyakim Rubinstein, head of the Central Elections Committee. He was then to meet with representatives of Likud-Beitenu and Yesh Atid, the two largest elected parties, The Jerusalem Post said.
Consultations with Peres were expected to continue Thursday and possibly into Friday. He was then expected to task Israeli Prime Minister Binyamin Netanyahu with forming the next government.
More than 80 Knesset members are expected to back Netanyahu, The Times of Israel said.
Netanyahu will then have 28 days to form a government but Peres can grant him a 14-day extension if required.