A handful of MPs, including Gordhan, have publicly joined calls from anti-apartheid veterans and trade unions for Zuma to resign, as South Africa endures record unemployment and a recession.
The numerous attempts to dislodge Zuma from office have led to some confusion over how many no-confidence votes he has faced. A simple majority of 201 votes was required to remove Zuma as president.
The African National Congress has 249 seats in the 400-seat parliament and the opposition controls 151 seats.
Tuesday's vote was held on a secret ballot for the first time, allowing more than 20 ANC members to break the party discipline and to vote against Zuma. According to the South Africa Constitution, if he loses, Zuma and his entire cabinet would have to step down and the speaker of Parliament would take up the presidency for 30 days.
Several opposition parties will lead a protest to the national assembly in Cape Town on Tuesday ahead of the parliamentary session due to begin at 2:00 pm (1200 GMT).
After surviving the vote, he thanked cheering supporters, adding: 'The ANC is there, is powerful, is big.it's hard to defeat the ANC'.
There, MPs of the governing party were, again, reminded of the party line - vote against the motion as the ANC could not support the opposition, which was its nemesis.
Academic and political analyst Richard Calland said the ANC's victory would prove shortlived because the party's woes were confirmed by a "not insignificant" number of its members casting their ballots with the opposition camp.
The motion for an early election will be tabled in Parliament tomorrow "and we will ensure it is debated and voted on as soon as practically possible", Maimane said.
The South African rand tumbled shortly after the news crossed the wires, reversing the previous day's gains.
The parliament's Speaker, Baleka Mbete, announced the motion had been defeated, with 177 votes in support and 198 votes against. Opposition parties hope that will encourage disgruntled legislators from the ruling African National Congress party to vote against the scandal-ridden Zuma.
Demonstrations both for and against Zuma are planned in front of the parliament building before the much-anticipated vote. Removing Zwane, who has also been accused of being too close to the wealthy family, may placate some of Zuma's critics amid a battle with mining companies over new empowerment regulations.