While the investigation will not interfere with the Army or FBI's criminal investigations, "this murderous attack should be examined from every angle to make sure nothing like this occurs again," Committee Chairman Sen. Joe Lieberman (I-Conn.) said in a statement.
The committee will investigate the potential motives of Major Nidal Malik Hasan, the man accused of opening fire at the military base. It will also look into whether the government missed warning signs of the incident and what lessons can be gleaned from the tragedy to prevent such future attacks.
CBSNews.com Special Report: Tragedy at Fort Hood
"As this investigation continues, we would do no favor to the thousands of Muslim Americans who are serving our military with honor and the millions of patriotic and law-abiding Muslim Americans by ignoring real evidence that an individual Muslim American soldier may have become a violent Islamist extremist," Lieberman said.
Sen. Susan Collins (R-Maine), the ranking Republican on the committee, said Congress owed the investigation to the military, their families and their communities.
"Our military must be prepared to detect the warning signs for potential violence and to intervene and prevent similar attacks in the future," she said. "This hearing is vital to assuring the men and women serving in our military and their families that their safety is a top priority for us."
More Coverage of the Tragedy at Fort Hood:
Obama Prepares to Pay Homage to Fort Hood Victims
Fort Hood Suspect Awake, Army Says
Counseling for Trauma, Grief at Ft. Hood
Ft. Hood Shooting: Composure Under Fire
Report: U.S. Knew Hasan Sought al Qaeda
Radical Imam's Web Site Praises Hasan
Fort Hood Reflects, but Work Carries On
Hasan Computer Shows No Terror Ties
List of Fort Hood Dead, Wounded