Prime Minister and UML Chairman KP Sharma Oli will inaugurate the gala at Bhirkuti Mandap in the capital.
The jamboree will witness a fierce competition between factions loyal to Chairman Oli and leader Madhav Kumar Nepal.
Both the sides have filed their candidacies for 17-member office-bearers.
Nabina Lama from establishment faction and Deepak Gautam from Nepal faction are vying for Chairmanship.
Likewise, Yen Bahadur Mahar from establishment and Abdul Hussain Khan from Nepal faction are in the race to General Secretary.
Similarly, eight student leaders are in election fray to become vice-chairmen.
Radhika Khatiwada, Nilkantha Acharya, Jeevan Rai, Saroj Yadav of Nepal faction and Mahesh Bartola, Rashmi Acharya, Sunita Baral and Sailesh Lama of establishment faction have filed their nominations for post of four vice-chairmen.
The convention will continue for four days.
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