On Saturday, upper and lower house lawmakers jointly voted for a panel to construct a new constituition meant to replace the one suspended since Hosni Mubarak's overthrow last year.
"The constituent assembly will consist of 50 percent from within parliament, and 50 percent outside parliament, and will include civil society groups and public figures," lower house speaker Saad al-Katatni said.
The new assembly is to decide on the extent of presidential powers, as well as the future political role of the Supreme Council of the Armed Forces (SCAF).
The assembly will also determine the role of Islamic law in Egyptian laws and society.
The parliament is expected to meet again on March 24 to choose the new panel.
SCAF, which has been ruling Egypt since former President Hosni Mubarak's overthrow in February 2011, has pledged to hand over power to an elected president by July.
Egyptians have in recent weeks staged mass demonstrations against the military rulers.
Protesters have been calling on the SCAF to hand over power to a civilian authority, accusing it of moving against the country's revolution by using violence against civilians.