Black is accused of betting on 160 matches while playing for Inverness Caledonian Thistle, Hearts and Rangers, including betting against his own team on three occasions.
The SFA have a blanket ban on footballers betting on any match and the three-man panel, who will convene at 1pm, have the authority to invoke a suspension as well as a fine if they see fit.
The SFA's guidelines on fines for breaching Rule 22, which covers betting, range from £500 to £1m, but the panel also has the authority to impose a suspension and even expulsion.
Black, who was reported to the SFA by a bookmaker, answered the charges by letter two weeks ago and will be represented today.
His case has sparked much debate in the game. Some argue that Black is unfortunate to be the focus of attention because betting is rife in dressing rooms at all levels, although charges of betting against his own team have been widely condemned.
His team-mate David Templeton says the Rangers squad is supportive of the 28-year-old and has praised his return to form on the pitch in SPFL League 1. He said: "The main thing is he has been playing well. Regardless of what has been going on off the park, he has put in 100% and shown the fans what kind of player he is. He has been by far a better player than last season.
"A lot of players were not too sure of the rules on betting. I have to be honest and say I didn't know you couldn't bet on any football in the world. I have no idea why that is the case. I mean, if you wanted to put a tenner on an English Premiership game what is the harm? In all my time at Hearts and Rangers, no-one has told me I can't do that."
The panel will also deal with the Aberdeen manager Derek McInnes and the Hearts assistant Billy Brown who were sent to the stand by referee Alan Muir at the end of a match at Tynecastle after an altercation. Both men can expect to receive touchline bans.