Indian High Commissioner Shivshankar Menon and Pakistani officials received Mishra at Wagah border, about 15 km from Lahore.
Given the key positions he holds as the National Security Advisor and the Principle Secretary to Prime Minister Atal Bihari Vajpayee, Mishra's arrival has sparked off speculation whether he would engage in behind the scene diplomatic parleys.
However, Indian officials emphasised that he had no plans to go to Islamabad and he would be returning on Monday.
Mishra is accompanied by four officials of the PMO and the Ministry of External Affairs.
Meanwhile, the Information and Broadcasting Minister Ravi Shankar Prasad has also left for Lahore to witness the fourth One-day International Cricket match between India and Pakistan there.
Prasad was visiting Pakistan at the invitation of Board of Control for Cricket in India (BCCI) chief Jagmohan Dalmiya and would return on Monday, officialsources said.