Khosa, a senior leader of the ruling Pakistan People's Party, said Musharraf had been declared a "proclaimed offender" or fugitive by an anti-terrorism court conducting the trial of those charged with involvement in the assassination of former premier Benazir Bhutto.
Musharraf would be arrested on his return to Pakistan, Khosa told reporters at the Governor's House in Lahore on Monday evening.
The former military ruler, who has set up the All Pakistan Muslim League party, has announced that he intends to return to Pakistan on March 23 next year. He has been living outside the country since April 2009.
"If Musharraf lands in Islamabad, then the federal government will arrest him and if he lands in Punjab province, (former prime minister) Nawaz Sharif's Pakistan Muslim League-N government will lay hands on him," Khosa said.
All Pakistan Muslim League spokesman Fawad Chaudhry told PTI that despite several arrest warrants issued for Musharraf and security issues, the former president would return to the country. "Musharraf has made it clear that he will return to his homeland no matter what may come," Chaudhry said.
Khosa said seven suspects charged with involvement in the killing of Benazir Bhutto had been indicted while arrest warrants for several others had been issued. Without naming slain Pakistani Taliban chief Baitullah Mehsud, he said one of the main accused had already been killed.
