TEGUCIGALPA, Honduras (AP) _ Morris Busby, President Reagan's special envoy, met with Honduran officials Monday in preparation for the visit next week by Secretary of State George P. Shultz.

Busby met for an hour with President Jose Azcona Hoyo, Foreign Minister Carlos Lopez Contreras and Defense Minister Col. Wilfredo Sanchez, but neither the Hondurans nor the U.S. Embassy gave details of the talks. Also attending the meeting was U.S. Ambassador Everett Briggs.

Busby arrived in this capital from Guatemala and left shortly after midday. His schedule is not being disclosed for security reasons, but it has been reported he will hold similar meetings with officials in El Salvador and Costa Rica, but not Nicaragua.

Shultz is scheduled to meet with the foreign minister of Guatemala, Honduras, El Salvador and Costa Rica in Guatemala City on Aug. 1. Nicaragua's leftist Sandinista government has not been invited to participate.

A State Department official in Washington, speaking on condition of anonymity, said plans call for the foreign ministers to issue a statement outlining steps needed to achieve peace in Central America with an endorsement by Shultz.

The meeting will come as the Reagan administration is considering a new aid package for the Nicaraguan rebels, known as Contras.

From Guatemala City, Shultz is to visit Argentina, Uruguay, Brazil and Bolivia. He then will return to Central America on Aug. 9 for visits to Costa Rica, El Salvador and Honduras for additional talks on the peace process.

The five Central American presidents signed a peace plan Aug. 7, 1987 at a meeting in Guatemala. President Oscar Arias of Costa Rica was awarded the Nobel Peace Prize last fall for originating the plan.