Politicians in the Palestinian West Bank are bracing themselves for what could be a significant internal shake-up of the status quo.
The secular party Fatah, the dominant force in the region's politics for half a century, is gearing up for its first party congress in seven years.
Palestine's political system has been relatively stable for the past decade.
Mahmoud Abbas has been president of the Palestinian Authority since 2004, the last parliamentary elections were held in 2006, and rival Hamas has ruled Gaza since 2007.
But at age 81, Mr Abbas is under increasing scrutiny over his health, although he will likely continue to head Fatah and its umbrella movement, the Palestinian Liberation Organisation.
The meeting, to be held over several days in the city of Ramallah, will also elect around half a dozen new faces to the 21-member committee.
Former United Nations ambassador Nasser al-Kidwa says he is optimistic about the injection of new blood into the committee.
"I hope for good, coherent leading bodies, whether it is the first body, the Central Committee, or the second body, the Revolutionary Council. I hope to see some kind of appropriate mix between those who are now in the leading bodies and the new generation, representatives of the new guard, if you wish."
Mr Abbas has been criticised for failing to bring about the creation of an independent Palestinian state.
The split between Fatah and Hamas has also widened under his rule.
Officials say the likely election of a deputy to President Abbas could help in healing that rift.
If somebody is appointed second-in-charge of the PLO executive committee, that person would virtually be guaranteed to be the next leader.
Those believed to be in the running include Mr Kidwa, former security chief Jibril Rajoub, an ex-head of intelligence and the former governor of the West Bank city of Nablus.
Former senior Fatah figure Mohammed Dahlan, now living in exile in the United Arab Emirates, is seen by many as undermining President Abbas's authority.
But Mr Rajoub has dismissed any such suggestions.
"Who is Dahlan? Dahlan's not existing. Dahlan's no more, and is no more part of the movement. He was fired. And I don't think that ... who's Dahlan, to keep talking about Dahlan as a solution? I don't think that this is fair. This is unrealistic. This is irrational."
The meeting comes during a period of heightened uncertainty, with authorities waiting to see what direction US president-elect Donald Trump will take on Israeli-Palestinian negotiations.
Mr Trump has expressed a desire to reach a peace deal in the long-running dispute and has indicated he might appoint his son-in-law to try to broker an agreement.
Meanwhile, Jerusalem has proposed building 500 more housing units in part of the city annexed by Israel after the 1967 Middle East War.
Most countries view all Israeli settlements on land that Palestinians seek for their own state as illegal.
Palestinian politician Mustafa Barghouthi says it is an opportunity for Mr Trump to show his authority.
"It is the responsibility of Mr Trump and his administration to immediately tell Israel that they will not support this horrible violation of international law since Israel is trying to claim that they have a green light* from Mr Trump and his administration."
The United Nations' Special Coordinator for the Middle East Peace Process, Nikolay Mladenov, has told the UN Security Council the situation is extremely tense.
"The continuing status quo in the occupied Palestinian territory reduces the prospect for sustainable and just peace between Israelis and Palestinians. Rarely have the risks to the two-state solution been greater than today. The situation on the ground is changing steadily, dangerously, as proponents of Israeli settlement expansion feel emboldened. Internal divisions among Palestinians flare up. And the prospect of a future Palestinian state becomes under threat like never before."
