Khan, who finally sacked Felix Magath a fortnight ago following a disastrous seven months in charge, will take advice from a panel including former Craven Cottage captains Danny Murphy and Brian McBride, and ex-Sunderland striker Niall Quinn.
Murphy, who retired from playing in 2013 and is now a radio and TV pundit, has already said he would like the job himself.
Former USA striker McBride was a hugely popular figure during successful four years at Fulham although Quinn's links with the club are less clear - he once had a trial with them as a youngster.
David Daly, a Fulham fan and director at Nike, and current Cottagers academy director Huw Jennings complete the committee
Khan said: "I've got the right five men to help us find the right man for Fulham.
"They each bring something similar, and yet unique, to the search
They understand what we want to achieve and they're committed to the process
And they very much respect Fulham.
"They know this is a special job for a manager and they want to play a role in making sure we get this right for everyone who plays for Fulham or loves the club
And we will."
Kit Symons is currently in caretaker charge and remains a candidate for the job having guided Fulham to their first league win, 2-1 at Birmingham, over the weekend.
Source : PA