While in Lima, Mr Lee will also hold bilateral meetings with other APEC leaders, the PMO said.
He will be accompanied by Mrs Lee, as well as senior officials from the Ministry of Foreign Affairs and the Ministry of Trade and Industry.
Minister for Trade and Industry (Trade) Lim Hng Kiang and Senior Minister of State for Defence and Foreign Affairs Maliki Osman will also attend the 28th APEC Ministerial Meeting in Lima on Thursday and Friday.
During Mr Lee’s absence, Deputy Prime Minister and Coordinating Minister for National Security Teo Chee Hean will be the Acting Prime Minister.