The decision to rule on the case could settle a nearly yearlong debate over one of Trump's first and most controversial executive orders.
Trump cited national security concerns with his first order, which banned all refugees for 12 days, Syrian refugees indefinitely and travelers from Iran, Iraq, Libya, Somalia, Sudan, Syria and Yemen indefinitely. Later versions of the order removed Somalia and added Chad, North Korea and Venezuela.
Detractors say the order amounts to a ban on Muslims, citing his anti-Muslim campaign record and the fact that each of the seven initial countries on the ban list were Muslim majority.
Challengers to Trump's latest ban, signed in September, said it doesn't justify the national security concerns, and lower courts have ruled against it.
The Supreme Court also took up the second version of the ban, but the high court dropped the case after Trump signed the latest order.
In December, the Supreme Court allowed the latest travel ban to go into full effect, placing the rulings from lower courts on hold, pending its decision on whether to take up the case.