Haaretz said the gathering, to be held in Egypt, was the result of a compromise between the United States, Israel and the Palestinians.
In addition to members of the Quartet - the United States, Russia, the European Union and the United Nations - and its envoy, former British Prime Minister Tony Blair, officials from Jordan and Egypt will participate.
The newspaper quoted an Israeli source as saying the summit would probably take place in the Egyptian resort of Sharm el-Sheikh on the anniversary of last year's Annapolis summit.
The Annapolis summit was held on November 27, 2007, at the U.S. Naval Academy, with participants from about 40 countries, including Saudi Arabia, Syria and Indonesia.
Quartet representatives met with their Arab League counterparts in New York last week and approved the proposed Israeli and Palestinian briefing. The Quartet members also decided to hold a peace summit in Moscow next spring.
In an interview with the Haaretz in mid-September, Palestinian President Mahmoud Abbas said he doubted that any peace agreement could be reached with Israel by the end of 2008.
Israel and the Palestinian National Authority pledged in Annapolis to resume peace talks, draft a settlement plan by late 2008, and come to terms on the form of a future independent Palestinian state. However their talks have so far made little tangible progress.
Both Palestinian and Israeli officials have spoken recently of a certain amount of movement in talks aimed at drawing up the borders between Israel and a future Palestinian state. However, there has been no progress over Jerusalem. Palestinians envisage East Jerusalem as the capital of their future independent state. The UN has condemned Israel's annexation of the city.
Abbas also insisted that a Palestinian state could, and should, only be achieved through peaceful diplomatic means.
"We erred when we made the second intifada into an armed struggle, and I will do everything I can to prevent a third armed intifada," he said.
