ISI chief Lt Gen Zahir-ul-Islam will meet his American counterpart, CIA head Gen David Patraeus, in Washington on August 2, the first meeting between the spy chiefs of Pakistan and the US amidst persisting tensions between the two countries.
Islam had called off a visit to the US two months ago when bilateral relations plunged to an all-time low.
The ISI chief's visit to the US will be a one-day affair, The News daily quoted its sources as saying.
The meeting between Islam and Petraeus would be a "make or break" affair since it could determine future relations between various organisations in Pakistan and the US, including the General Headquarters and the Pentagon, the daily quoted diplomatic sources as saying.
The spy chiefs will focus on several defence and security-related issues, including intelligence-sharing and Pakistan's call for an end to US drone strikes in the lawless tribal belt bordering Afghanistan.
Islamabad has described the attacks by CIA-operated drones as counter-productive and a violation of the country's sovereignty.
Islam is expected to ask the US to provide drone technology to Pakistan, the sources were quoted as saying.
Circumstances surrounding the unilateral US raid that killed Osama bin Laden in the Pakistani garrison town of Abbottabad last year will also figure in the talks.
The "unguarded activities" of US intelligence agencies and agents on Pakistani soil will also be taken up by the ISI chief, the report said.
Following Islam's visit, Petraeus is expected to come to Pakistan during a trip to countries in the region, the report said.
The report said the stalled strategic dialogue between the two countries is unlikely to be resumed any time soon.
These talks will be conducted by Foreign Minister Hina Rabbani Khar and Secretary of State Hillary Clinton.
The meeting between the spy chiefs will have nothing to do with the strategic dialogue, the report said.
The sources were quoted as saying that the ISI chief had an important meeting with Gen John Allen, the commander of the International Security Assistance Force in Afghanistan, when he accompanied Prime Minister Raja Pervez Ashraf on his recent visit to Kabul.