New members are traditionally required to kneel to the Queen as part of a swearing-in ceremony.
Mr Corbyn, a life-long republican, has not confirmed whether he will keep to that tradition.
The Labour leader missed the first meeting of the Privy Council in October due to "other commitments".
The Labour Party denied that this was a snub and said David Cameron took three months to be sworn in to the council after becoming Conservative leader.
Opposition leaders can receive confidential briefings from the security services through their membership of the group.
The Privy Council's role is to advise the monarch of the day in carrying out their duties, such as the exercise of prerogative powers and other functions assigned to them by Acts of Parliament.
Much of its business is routine and is concerned with obtaining the monarch's formal approval of orders which have already been discussed and approved by ministers or arranging for the issuing of royal proclamations. Queen Anne was the last monarch to refuse an order.
Read a full guide to the Privy Council.
Asked in September if he would kneel to the Queen during the swearing-in ceremony, Mr Corbyn said "I didn't know that was involved actually," adding that there were some things that "ought to change in our society, maybe that's one of them".
Once Mr Corbyn joins he will be will able to use the title Right Honourable.
John Prescott, a former member of the council, told The Sunday Politics show he had objected to kneeling in front of the Queen and kissing her hand, calling it a "stupid arrangement".
He added that you did not kneel in front of the Queen, "you hop from one chair to another and brush your lips lightly across her hand".
Lord Prescott resigned from the council in 2013 after disagreeing with its procedures.
Labour leader Jeremy Corbyn is expected to join the Privy Council, the ancient group which advises monarchs, on Wednesday.