The meeting is being attended by Parliamentary Affairs Minister Venkaiah Naidu and party Vice President Dinesh Sharma, appointed observers by the BJP's Parliamentary Board for deciding the name of Haryana Chief Minister.
The meeting will elect leader of the BJP Legislature Party (BJPLP).
Kailash Vijayvargiya, who is in-charge of party's affairs in Haryana, told reporters that they will take the opinion of all the legislators before finalising a name.
First-time MLA Manohar Lal Khattar is the front runner for the post of Chief Minister of Haryana where BJP will rule for the first time ever since the formation of the state in 1966.
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Other Chief Ministerial aspirants include Haryana unit Chief Ram Bilas Sharma, two newly elected first time MLAs Abhimanyu and Om Parkash Dhankar.
The other names doing the rounds are that of five-time MLA from Ambala Cantt Anil Vij and Rao Inderjit Singh, who switched from the Congress before the Lok Sabha polls.
Mediapersons have gathered in large numbers at the Chandigarh UT Guest House where the meeting is underway.
Before going in for the meeting, Ram Bilas Sharma said the decision on naming the Chief Minister will be taken by the party high command in consultation with the newly elected legislators.
Prem Lata, first-time MLA from Uchana Kalan and wife of Birendra Singh, who joined the BJP recently, told reporters that her husband was the most experienced politician to run the state.
"I would want him to be the Chief Minister," she said as she went inside to attend the meeting.
The saffron party won 47 seats while the INLD won 19, INC 15, HJC-BL two, BSP and SAD bagged one seat each while Independents got five.