Options for preventative military strikes were discussed in the meeting led by Pentagon chief General James Mattis and the US military's top officer General Joseph Dunford.
Tensions between the US and North Korea have been worsening as Kim Jong-un refuses to give up his quest for nuclear capable ICBMs.
Trump was briefed on the options along with his National Security Council and secretary of state Rex Tillerson.
The Situation Room often hosts war councils and emergency breifings during times of conflict or national crisis with the President and the National Security Council.
It was famously pictured when President Barack Obama was monitoring the US Navy SEAL Team Six mission to kill Osama bin Laden.
Yesterday, General James Mattis warned the US Army to "stand ready" for war with North Korea.
However, the US have repeatedly said diplomacy and a peaceful solution is the leading option to end the confrontation with Kim.
The meeting came after Trump warned the world is in the "calm before the storm".
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Spokeswoman for the US State Department Heather Nauert revealed the Situation Room meeting during a press briefing, which was then followed by a full statement from the White House.It said: "This morning President Trump met with members of his national security team to receive a briefing from General Mattis and General Dunford.
"The briefing and discussion focused on a range of options to respond to any form of North Korean aggression, or, if necessary, to prevent North Korea from threatening the US and its allies with nuclear weapons."
Experts speculated the meeting could have been to discuss responses to any looming North Korean missile tests – with fears of a launch on October 18.
It came after the US President cryptically said only "one thing" will work against North Korea.
Trump has also openly criticised the past 25-years of US policy on the Kims.
The Situation Room – officially named the John F. Kennedy Conference Room – is used to deal with disasters and conflicts at home and abroad.
It is equipped with secure communications equipment, and allows the US President to command the nation’s military across the globe.
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President John F. Kennedy commissioned the construction of the command centre during the Cold War.
Defence expert Harry Kazianis, director of defence studies at the Center for the National Interest, commented on the meeting on Twitter.
He suggested it could have been for "plotting out response to upcoming NK missile launch".
It has been nearly a month since Kim last tested a weapon – last firing a missile over Japan on September 15.
North Korea was thought to test a missile or nuclear bomb on October 10, but they failed to deliver on the fears raised by the CIA and Seoul.
Escalating tensions, Pyongyang has threatened to detonate a H-bomb over the Pacific Ocean dubbed the "Juche Bird".
Trump called a meeting in the "alternative Situation Room" at his resot Mar-a-lago as the US launched a cruise missile strike on Syria back in April.
The US President also reportedly had a situation room meeting on September 3 after Kim's H-bomb test, and recent briefings on the disaster in Puerto Rico.
Trump has squared up to Kim, warning he can "totally destroy" the rogue state unless they back down from threatening US.
Tensions have reached new highs this as Kim Jong-un launched over a dozen missile tests and detonated his first ever H-bomb.
The US considers a nuclear-armed North Korea a threat to national and global security due to the state's unpredictable nature.
Meanwhile, Pyongyang thinks nukes will protect them from regime change – living in fear of Kim being deposed like Iraqi dictator Saddam Hussein and Libyan tyrant Muammar Gaddafi.