The commission will consist of retired Justices T Jayaram Chouta and R Balasubramanian and BCCI secretary Sanjay Jagdale.
BCCI president N Srinivasan, whose son-in-law is Gurunath, announced the setting up of probe panel on Sunday and also assured a fair investigation.
Srinivasan said that he will have no role in setting up or the working of the commission.
The three-member commission will find out what was Gurunath's role in the spot-fixing scandal.
Gurunath is in the custody of the Mumbai Police. He was arrested by the Crime Branch of Mumbai Police for his alleged link in the spot-fixing scandal that came to light with the arrest of three Rajasthan Royals cricketers - India fast bowler Sreesanth, Ankeet Chavan and Ajit Chandila.
Gurunath's name was revealed by Bollywood actor Vindu Dara Singh, who has been arrested by Mumbai Police.
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