Mantashe says the decision has been communicated to Thabo Mbeki.
Mantashe said that Mbeki accepted the news. "He did not display shock... he welcomed the news and agreed that he is going to participate in the process and the formalities."
"We want to ensure that there's certainty [within the ANC], that's why we've taken this decision," said Gwede Mantashe, who was addressing the media at the Esselen Park conference centre in Kempton Park on the East Rand.
"This procedure (the recall) will take place to ensure the smooth running of government."
Parliament must develop a formula to deal with the recall, said Mantashe.
"We will be quite patient with Parliament."
Deputy president to go too
Earlier on Saturday Deputy President Phumzile Mlambo-Ngcuka's said she would formally hand in her resignation if President Thabo Mbeki resigns.
Denzel Taylor said Mlambo-Ngcuka would hand in her resignation depending on whether Mbeki hands in his resignation.
"I can confirm that the deputy president will resign if the President is asked to step down and resigns accordingly," Taylor said.
"She was appointed by the President and has served him loyally. She feels that it is the right thing to do."
Constitutional Law expert Pierre de Vos writes on his blog, constitutionallyspeaking.co.za, that the speculated appointment of Speaker of Parliament Baleka Mbete as President for a temporary period may be problemmatic.
"As I read the Constitution this is not possible unless the entire cabinet resigns as well. Even then the Speaker can only act as President until the National Assembly designates another of its members as acting President.
De Vos continues: "The reason for this is that the separation of powers between the legislature and the executive makes it unwise for the Speaker of Parliament to head the national executive and only requires this as a last resort for as short a period as possible."