Making the announcement on Twitter, the Leeds North West MP said he was at 'very low risk' but was being formally assessed as a precaution.
He attended the UK bus summit in London on February 6, where an attendee later tested positive for coronavirus.
There are fears the patient could have infected hundreds of others at the conference, including other MPs, a minister and transport chiefs.
Mr Sobel has cancelled all upcoming engagements over the next 14 days as a precaution and will be formally assessed for the virus.
He urged anyone who thinks they have been in contact with someone who has coronavirus to 'self-isolate' and call 111.
Mr Sobel's statement read: "As has been reported, I attended the UK bus summit on the February 6, where there was an attendee who has tested positive for coronavirus.
"Whilst I have been informed that I am at very low risk, I have called 111 to be formally assessed.
"As a precaution, we have cancelled all engagements until next Thursday when the 14-day potential incubation period will end.
"If you think you may have been in contact with someone who has coronavirus, self-isolate and call 111 for an assessment."
For more advice on preventing the spread of the coronavirus visit this page.