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But it is not a hereditary position that will pass automatically to the Prince of Wales, who will be head of state in only 15 of the 53 member nations that now make up the Commonwealth.
The Commonwealth Secretariat insists the leader must be chosen by Commonwealth heads of government, such as the Prime Ministers of New Zealand and Canada.
Many want an elected head to make the organisation more democratic, including Labour leader Jeremy Corbyn.
Yet others, such as the former Prime Minister of New Zealand John Key, think differently. He argued in 2015 that the succession 'should just go with the crown'.
In a highly unusual move the Queen made clear her thoughts today, telling the presidents and prime ministers gathered at Buckingham Palace she hopes one day they will choose Charles to carry on the important work started by her father.
Earlier this year it was reported that the topic would be discussed by the world leaders when they go into retreat at Windsor Castle, holding informal discussions without aides or advisers present.
Downing Street said on Monday that a decision on whether Charles should succeed his mother as Commonwealth head was expected on Friday, with the Prince of Wales widely expected to be given the nod.
Later Dr Keith Mitchell, the prime minister of Grenada, said he had 'no difficulty' with Charles taking over as head of the Commonwealth.
He told the BBC's World At One: 'It would be good news, the Queen herself does very well and certainly we have been fortunate to have her leadership of stable leadership over this period.
'But having the Prince of Wales would certainly not be an unhelpful act at this point in time.'
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