The voting session was attended by 110 lawmakers of the 128-member parliament.
Michel Moawad, a candidate backed by the Lebanese Forces party, got 42 votes, well short of the figure needed to win the first round, while 50 lawmakers cast blank ballots.
Speaker Nabih Berri set the next voting session for a week from now, on Dec. 1.
A candidate needs two-thirds of the vote (86 lawmakers) in the 128-member parliament to get through the first stage, while an absolute majority is needed in subsequent rounds.
Former President Michel Aoun left office on Oct. 31 after completing a six-year term, without lawmakers agreeing on a successor.
Since 2019, Lebanon has been facing a crippling economic crisis that, according to the World Bank, is one of the worst the world has seen in modern times.
The country has been without a fully functioning government since May, with Prime Minister Najib Mikati and his Cabinet having limited powers in their current caretaker status.
Source: Anadolu Agency