The session will begin at 10 am in Parliament House.
As a joint session of parliament cannot be convened during the Chinese Premier's visit, he will address the Senate or lower house of parliament, presidential spokesman Farhatullah Babar said.
The specially summoned session will be prorogued the same day after the address by Li, who will begin an official visit to Pakistan on May 22.
The new National Assembly or lower house of parliament is expected to be convened later in May or early next month.