Magashule, who is also Free State premier, received 209 nominations from delegates while his former deputy Thabo Manyoni only managed to get 25 nods.
ANC branches were given until Sunday to hold meetings, with secretary general Gwede Mantashe warning that there would not be any extensions.
Stalwarts and veterans from the ANC have once again called for President Jacob Zuma to step down with immediate effect.
Former President Thabo Mbeki has described a political party he once led as captured.
Many have been vying to get Mabuza’s approval but he has been coy and keeping his cards close to his chest.
ANC treasurer general Zweli Mkhize says it will do the ANC no good to go into its 54th national elective conference in December divided
Some ANC branches failed to reach a quorum which means that at least 70% of branches need to hold meetings ahead of the NEC conference in December.
Gwede Mantashe says the circulation of "fake news" of his impending suspension is a desperate act ahead of the December elective conference
At his book launch, Ronnie Kasrils said he asked former president Thabo Mbeki to contest for the role of ANC president.
Ramaphosa will have a tough time convincing his ANC supporters to throw their weight behind Naledi Pandor ahead of the December elective conference.