Rangers midfielder Black stands accused of betting on 160 matches when he was a player with Inverness Caledonian Thistle, Hearts and Rangers.
He is also charged with backing his own team not to win on three occasions over an eight year period.
The SFA has strict rules on gambling and prohibit any of their registered footballers betting on any game.
The governing body's guidelines on fines for breaching Rule 22 - which covers betting -range from £500 to £1million.
But the three-man disciplinary panel, who are due to meet today at 1pm, also has the authority to impose a suspension and even expulsion from the game.
Black answered the charges by letter two weeks ago and will be represented at the hearing today.
The case has divided opinion in Scottish football with many claiming the 28-year-old, who is seldom out of the headlines, has been unfairly singled out.
PFA Scotland official Jack Ross has also suggested the SFA need to soften their stance on gambling to allow players to bet on football matches in other countries as other associations, including the FA, currently do. Rangers manager Ally McCoist claimed gambling is rife among football clubs this country and has continued to select former Scotland internationalist Black for his side.
He said: "We all need to sit down - the SFA, PFA Scotland, Ladbrokes and whoever - and get the whole thing sorted out. Let's try to resolve the matter. Surely nobody is naive enough to think this is a one-off situation."
Rangers forward David Templeton has stressed the entire Rangers squad is behind their team-mate.
He said: "The main thing is he has been playing well. Regardless of what has been going on off the park, he has put in 100% and shown the fans what kind of player he is. He has been by far a better player than last season.
"A lot of players were not too sure of the rules on betting. I have to be honest and say I didn't know you couldn't bet on any football game in the world. I have no idea why that is the case.
"I mean, if you wanted to put a tenner on an
English Premiership game what is the harm? In all my time at Hearts and Rangers, no-one has told me I can't do that.-