Mugabe is now likely to face impeachment proceedings in the Parliament, as per the terms set by the ruling party.
As per a CNN report, the autocrat had agreed to terms for his exit and that a letter had been drafted.
However, the 93-year-old Mugabe disregarded expectations to end his 37-year rule when he ended the televised statement without resignation on Sunday night.
Mugabe, in his first television appearance since the military intervention, did not announce his resignation instead said the country needed to "return to normalcy".
President Mugabe has been asked to step down from presidency following a de facto military coup.
The ruling ZANU-PF had set Monday noon as the deadline for Mugabe, failing which he was supposed to face impeachment proceedings in the Parliament.
Mugabe has already been voted out from the party and replaced with recently dismissed Vice President Emmerson Mnangagwa as new party leader.
Mugabe's 52-year-old wife Grace has also been booted out from the party over accusations of "preaching hate, divisiveness and assuming roles and powers not delegated to the office."
The controversial first lady used to be her husband's secretary as well. (ANI)