"On Monday, President-elect Barack Obama and Senator John McCain will meet in Chicago at transition headquarters," said Obama transition spokeswoman Stephanie Cutter.

"It's well known that they share an important belief that Americans want and deserve a more effective and efficient government, and will discuss ways to work together to make that a reality." she added.

U.S. Senator Lindsey Graham, a McCain ally, and Congressman Rahm Emanuel, Obama's choice for White House chief of staff, will join the meeting.

Obama and McCain spoke on phone on the Election Night of Nov. 4after Obama won the election, but have not met in person since the Al Smith dinner in New York on October 16.