Saudi Arabia had asked its staunch ally, Pakistan, to join the Saudi-led coalition in Yemen and had requested warships, aircraft and troops.
Pakistani members of parliament have spoken out against becoming militarily involved in Yemen all week and the draft resolution is bound to disappoint the Saudis.
"The parliament of Pakistan expresses serious concern on the deteriorating security and humanitarian situation in Yemen and its implications for peace and stability of the region," the resolution said, according to a Reuters report.
"(It) desires that Pakistan should maintain neutrality in the Yemen conflict so as to be able to play a proactive diplomatic role to end the crisis."
The Pakistan military, which has ruled the country for more than half its history, has said it will respect the civilian government's decision.
Last month, a Saudi-led coalition began air strikes in Yemen against Ansarullah fighters. Saudi Arabia and Yemen share a border and Saudi Arabia says it is afraid that instability might spill over to its territory.
Pakistan's parliament began debating the request on Monday and no legislator spoke in support of sending troops for Saudi to use in Yemen.
Pakistani army chief General Raheel Sharif had publicly remained silent on the request. Army officials have said they will defer to the civilian government.
Saudi Arabia's request had put Pakistan in a tight spot. The nuclear-armed nation of 180 million people has strong economic, religious and military ties to Saudi Arabia but also a long and porous border with Iran.