Pakistan's top court has rejected a petition seeking the disqualification from office of famous cricketer-turned opposition leader Imran Khan for allegedly concealing foreign assets.

The Supreme Court in Friday's decision did, however, disqualify Jehangir Tareen, a top leader from Khan's Pakistan Taherik-e-Insaf party, for not correctly reporting his assets to income tax authorities.

Khan's lawyer Fawad Chaudhry said shortly after the rejection of ruling lawmaker Hanif Abbasi's petition that he will challenge Tareen's disqualification in court.

The latest court order was seen as a boost for Khan, who played a key role in the July 28 disqualification from office of former Prime Minister Nawaz Sharif by the same court for concealing assets.

Khan's party hopes he will become prime minister after winning next year's parliamentary elections.