Mr Tsvangirai has not ruled out participating. President Robert Mugabe would win automatically if he did not.
On Friday, the opposition rejected the results of the 29 March election that gave Mr Tsvangirai the most votes, but not an outright victory.
Mr Mugabe has accepted the result and confirmed he will stand in the run-off.
The date has still to be set, but it is expected to be within 21 days.
Dilemma
The Movement for Democratic Change (MDC) said it had been cheated of thousands of votes as the Zimbabwe Election Commission announced that Mr Tsvangirai had gained 47.9% of the votes - against 43.2% for Mr Mugabe.
The party now faces a dilemma, says the BBC's Peter Biles in
It can boycott the run-off and hand victory to President Mugabe, or it can take part - under protest - in the knowledge that the violence and intimidation witnessed over the past month has created a far tougher electoral environment, our correspondent says.
After a high-level meeting on Saturday, MDC spokesman Nelson Chamisa said no decisions had been reached so far.
"There are issues that have to be clarified," he told Reuters news agency.
In addition to meetings in
The MDC says the government delayed the result for more than a month in order to orchestrate a campaign of violence to deter opposition supporters in a run-off.
Although the result of the election is inconclusive, it represents a humiliation for 84-year-old President Mugabe, our correspondent adds.
On Friday MDC Secretary General Tendai Biti said Mr Tsvangirai should be declared president, as he had gained 50.3% of the vote.
"Morgan Tsvangirai is the president of the
Mr Tsvangirai should be allowed to lead a government of "national healing" that included members of Mr Mugabe's Zanu-PF party, he said.