Hiphei, a veteran leader, was elected to the Assembly from the Palak constituency.
"He (Hiphei) would first tender his resignation as speaker and then from the primary membership of the Congress. He will then join our party," the Bharatiya Janata Party (BJP) leader said on the condition of anonymity.
He added that Hiphei had recently met the central leaders of the saffron party.
Mizoram, the only state in the north-east under Congress rule, will go to the polls on November 28.
Several senior Congress leaders recently left the party and joined the opposition Mizo National Front.
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