Tasmanian Premier Jeremy Rockliff faced an ongoing no-confidence debate in parliament on Thursday morning, which resumed after a marathon debate throughout Wednesday.
The motion, put forward by Labor opposition leader Dean Winter, appears all but certain to pass, with the Greens and three crossbench MPs voicing their support.
Mr Rockliff has conceded the numbers are against him but has vowed to "fight to his last breath" and not resign.
"If Mr Winter's divisive and destructive motion is passed, I will be going to the lieutenant-governor and seeking an election," he said ahead of Thursday's debate.
"This will be advice I will provide to the governor that an election is needed, unless Mr Winter forms government with the Greens."
Mr Rockliff said Tasmania did not want and could not afford an election.
"Be that on Mr Winter's head. This has been a selfish grab for power. I have a lot more fight in me," he said.
"The only job Mr Winter is interested in is mine. And I am not going anywhere."
Tasmania went to the polls just 15 months ago - an election in which the Liberals were returned to power in minority with just 14 of 35 seats in the lower house.
Labor on Tuesday threatened to pull the trigger on a no-confidence motion if it could find support from the Greens and enough crossbench MPs.
Labor has lashed Mr Rockliff for budget "mismanagement" and delays and cost blowouts to the delivery of two new Bass Strait ferries.
Some crossbenchers and the Greens also have gripes with a new $945 million stadium in Hobart, a condition of the Tasmania Devils entering the AFL in 2028.
Labor supports the team and a stadium, a position they reiterated on Wednesday.
The Devils fear an early election would delay the stadium project and put the club's licence at risk.
Greens leader Rosalie Woodruff has kept the door ajar for a minority government scenario with Labor, who only hold 10 lower-house seats.
Dr Woodruff said her party was prepared to work with Labor, saying Mr Winter could prevent Tasmania from going to an election by forming a new government.
Independent Kristie Johnston, one of the three crossbenchers to support the motion, hasn't ruled out working with Labor.