John Bercow's successor as Commons Speaker will be announced on Monday 4 November.
Mr Bercow, who has been in office since 2009, will take over the presidency for the last time on 31 October.
He will officially resign as a Member on November 4, in accordance with his two immediate predecessors.
Mr. Bercow announced on Monday that he would resign after 10 years in the function, which includes the conduct of procedures in the lower house.
He was seen as an advocate of parliamentarians and their efforts to hold the government to account, especially at Brexit.
However, critics accused Mr. Bercow of having withdrawn from his authority and raised questions about his impartiality after a series of decisions favoring Remain's advocates.
He survived numerous attempts to remove him from the chair, as well as revelations about his expenses and allegations of bullying that he denied.
On Wednesday, he warned Boris Johnson against complying with the legislatures passed by MPs to try to avoid Brexit without agreement late next month.
Mr Bercow said the PM would behave like a "bank robber" – promising to allow "additional procedural creativity" to prevent it.
The election of his replacement member is supervised by Conservative MP Ken Clarke, the father of the house (senior male member).
Nominations must be submitted between 9:30 and 10:30 on election day, with the election being the first order of business when proceedings start at 2:30.
Mr Clarke will chair the meeting.
Every member of parliament can take part in the election. However, if a minister or an oppositional Frontbencher decides to do so, he is expected to step down from his role.
Each candidate will give his pitch to the deputies, the order being determined by vote.
The deputies then vote secretly.
Each candidate who wins 50% of the votes will win, or successive votes will be taken to eliminate the candidates one at a time.
The winner, who will then be elected Speaker, will attend the Lord's Commissioners in the Lords to receive the royal approbation.
Several candidates have stood up for the job.
Deputy Speaker Lindsay Hoyle, Labor MEP Chris Bryant and Conservative MP Sir Edward Leigh have all announced that they will succeed Mr Bercow.
Harriet Harman has also confirmed she will stand.
The former deputy union leader told Sky News it was "time for another woman" on the speaker's chair.