The memorial is reportedly being held in an amphitheater at Apple headquarters in Silicon Valley and will be broadcast to Apple employees via webcast. The private event was not opened to customers or the media.
Jobs died on Oct. 5 after a long battle with pancreatic cancer.
Immediately following the announcement of his passing, fans of the tech and design innovator flocked to Apple stores in Manhattan and around the country to create makeshift memorials using sticky notes, flowers and even apples.
Jobs had announced his resignation as CEO in August.
"I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple’s CEO, I would be the first to let you know," Jobs said in his resignation letter. "Unfortunately, that day has come."
The company released the iPhone 4S on Oct. 14, less than two weeks after Job's passed away.
The new iPhone reportedly sold more than 4 million units in the first three days.