James Aylward, Rob Lantz and Darlene Compton are in the running for the position.
Aylward is the only contender who is a member of the legislature, serving as opposition critic for several portfolios including health, tourism and education.
Compton manages of a long-term care facility and says some of her priorities are the economy, support for rural areas and health care.
Lantz, a former city councillor, was elected to Charlottetown City Council in 2006 and 2010.
The Opposition Tories said earlier that the convention would include new features, like allowing members to vote in advance polls or by mailing in their ballot.