The meeting comes a day after a boat reported to be carrying up to 700 migrants from Libya capsized and sank in the Mediterranean. Only 28 people have been rescued.
“After what happened in the Mediterranean the night before last I felt it was our moral duty to concentrate our responsibility, as Europeans, to prevent this kind of tragedy from happening again and again,” Mogherini said in a statement.
The diplomat added that building a "common sense of European responsibility" was the main issue on the agenda.
In order to exercise this duty in a consistent way, Mogherini pointed out that EU interior ministers, who will participate in Monday’s meeting alongside foreign ministers, should also contribute to the cooperation on a number of issues including sharing responsibility in welcoming migrants.
Earlier on Monday, Belgian Prime Minister Charles Michel urged the European Council to consider an extraordinary meeting.
The Mediterranean is one of the main routes for migrants fleeing conflicts in North Africa and the Middle East. The United Nations estimates that at least 3,500 people died crossing the sea in 2014. The recent capsize could drive up the current death toll for 2015 to about 1,600.