Saenuri members of the parliament will reportedly play an important role in passing the motion as the opposition bloc lacks the necessary votes.
The Sewol ferry with 476 passengers, mostly pupils on a school-sponsored trip, capsized on its way from the northwestern city of Incheon to the southern island of Jeju on April 16, 2014, killing more than 300 people.
The captain and several members of the crew, who left the ship, while passengers were instructed not to move, were later given life sentences.
Choi was officially charged on November 20 and the prosecution said that the president was also involved in the scandal. As a result, thousands of people took to the streets demanding the president's resignation.
On December 3, South Korea’s opposition parties handed an impeachment motion against the president. The bill was endorsed by 171 lawmakers from three parties.
A two-thirds majority in the 300-seat legislature is needed for the impeachment process to start.