The inquiry will be held under the Judges Act and will examine allegations Michel Girouard bought an illegal substance from a police informant before being named to the bench.
Superior Court Chief Justice Francois Rolland asked the judicial council last year to look into the matter.
Girouard is a former lawyer who was appointed to the bench in September 2010. He has been sidelined since the judicial council involvement.
He worked in the Abitibi-Temiscamingue region where a large drug sweep resulting in 100 arrests took place in 2010.
The judicial council pointed out in a statement the allegations against Girouard have not been proven and it is the responsibility of the inquiry to establish the facts.
The decision to convene the committee was made by a review panel of three judges, including two chief justices.
"After a careful review of the matter, the members of the panel decided that the issues in question are serious enough that they could warrant the judge's removal from office," the council said in a statement Wednesday.
"Accordingly, an inquiry committee will hear the matter."