The five-member larger bench headed by Chief Justice Gulzar Ahmed and comprising of Justice Mushir Alam, Justice Umar Ata Bandial, Justice Ijaz-ul-Ahsan and Justice Yahya Afridi.
Supreme Court has also asked any other stakeholder who wanted to become part of the proceedings to submit their written recommendations within two weeks.
The United States Department of Justice released a statement thanking the Pakistan government for appealing against a court order acquitting Ahmed Omar Saeed Sheikh, who was convicted over the 2002 beheading of the Wall Street Journal reporter Daniel Pearl.
This controversial decision is now being appealed separately by the Pakistani government, and by Pearl's family in the Supreme Court; stating that Sheikh's release from prison would endanger the public.