The three-member bench led by acting Chief Justice Jawwad S Khawaja heard the petitions filed by by Pakistan Tehreek-e-Insaf leader Ishaq Khakwani and Pakistan Muslim League-Quaid president Chaudhry Shujaat Hussain.
The bench observed that it was not bothered that the Prime Minister or other lawmakers lose their job after their verdict.
"The case will be decided on merit," Khawja said during the hearing.
The bench later adjourned the hearing till November 10.
The petitioners asked to disqualify Sharif under Article 62-f of the Constitution, claiming he gave a false statement in the joint sitting of the Parliament over the role of the army in negotiations with opposition protests in the capital.
Attorney General Salman Aslam Butt argued that the petitions should be thrown out as only the speaker of parliament or election commission can disqualify elected representatives.
Pakistan opposition leader and Tahreek-i-Insaf Party chairman Imran Khan along with cleric Tahir-ul-Qadri launched their protests in a bid to oust Prime Minister Nawaz Sharif on August 14 and had vowed to remain in Islamabad till the removal of government led by him.