The five-member panel will be headed by former Chief Justice of Orissa High Court, Justice (Retd) Bilal Ahmed Naziki.
The Education Ministry recently came under fire from parents of children going to private schools over unscheduled fee hikes here.
The decision to form the panel was taken by Deputy Chief Minister Tara Chand, who also holds the portfolio of Education Ministry.
"In pursuance of the judgement of the Hon'ble Supreme Court in the case titled Islamic Academy of Education V/S state of Karnataka, following committee for fixation of fee structure of private educational institutions in the state of Jammu and Kashmir has been framed and sent for confirmation to General Administration Department," Education Ministry spokesperson said today.