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The move by the Criminal Cases Review Commission comes after a reported confession by serial killer Levi Bellfield.
Lin and Megan Russell were brutally killed in a quiet country lane almost 30 years ago - but Michael Stone has always denied any involvement.
Michael Stone is a career criminal born Michael Goodban in Tunbridge Wells, Kent in 1960. He first came to police attention aged 12 and later became an unstable heroin addict.
The man found guilty for the murder of Lin Russell and her daughter Megan is set to have his convictions reviewed.
Levi Bellfield, who killed Milly Dowler, bragged that he made a false confession about murdering Lin and Megan Russell so that he would get a £5,000 payment, it is alleged