Sharif will hold the meeting on the sidelines of the World Islamic Economic Forum in the British capital. The premier left for London on Monday afternoon.
The UK's trilateral peace initiative, the fourth since the summer of 2012, is aimed at strengthening cooperation between Afghanistan and Pakistan and to encourage an Afghan-led peace deal. The last trilateral meet was held in February.
Nawaz and Karzai last met on August 26 when the Afghan leader visited Pakistan to seek full support and greater cooperation in the peace and reconciliation process.
This is the World Islamic Economic Forum's first annual event in Europe following meetings in Malaysia, Kazakhstan, Indonesia, Kuwait and Pakistan.
Sharif will address the opening session of the forum tomorrow, during which he is likely to apprise the body of his government's priorities.
He would also hold bilateral talks with leaders of several countries, including his Malaysian counterpart Najib Razak, King Abdullah of Jordan, the Sultan of Brunei, Indonesian President and the President of Kosovo.
He will talk about the steps it is taking to create business and investment opportunities and will also discuss matters relating to fostering greater economic cooperation and collaboration among the Muslim countries and between the Islamic countries and the rest of the world.
Senior members of the British Cabinet will call on Sharif, including Foreign Secretary William Hague, Home Secretary Theresa May and International Development Secretary Justine Greening.
Pakistan-UK relations will be discussed in these meetings.
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