The new party, likely to be called Pravoye Delo or Right Cause, will hold its inaugural congress on November 16.
The party is to be based on the Union of Right Forces (SPS) party, along with the Democratic Party and Civil Force parties, which are also broadly supportive of the Kremlin.
Its name, charter, emblem and program are expected to be approved by the organizing committee on Sunday.
The organizers of the new party said in statement that its principles were "democracy, the free market, the rule of law and the equality of everyone before the law."
The party's three co-chairmen will be Boris Titov, Georgy Bovt and Leonid Gozman, currently of Civil Force, the Democratic Party and the SPS, respectively. The party is expected to take part in the March 2009 regional elections.