Mr Mnangagwa won 50.8% of the vote compared with Mr Chamisa's 44.3%.
After many speculations, Zimbabwe Justice Minister Ziyambi Ziyambi put the issue to rest by announcing that Mnangagwa's inauguration has been indefinitely deferred after election court challenge.
Mr Chamisa wants the court to declare him the victor or call a fresh election, his lawyer told Reuters news agency.
Advocate Mpofu said the applicant has enough evidence including alleged statistical misrepresentations by the elections administration body, ZEC and other factors that included an uneven playing field.
The outspoken politician was further barred from making any public political statement and to report twice a day at CID law and order division until the court ruled otherwise. We have a good case and cause!
The opposition MDC lodged a legal challenge to last weeks election, alleging widespread irregularities.
Judges have 14 days to rule on the case, and could declare a victor, call another election, or order a run-off or recount, according to the Veritas legal group.
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The foreign affairs ministry on Tuesday said the inauguration was scheduled to take place on Sunday.
"In the alternative, we seek that there be another election which complies with the dictates of the law", Mpofu said.
The polls' aftermath has been marred by allegations of a crackdown on opposition members, including beatings and arrests. Six died after soldiers opened fire on the protesters in a response the opposition alliance called "disproportionate and unjustified".
Also on Friday, lawyers for opposition figure Tendai Biti asked judges to throw out charges against him over the protests against alleged election fraud, in a case raising further global concern about the new government.
Diplomats and election observers were present at the court hearing in Harare after Biti fled to Zambia but was handed back to Zimbabwean police despite claiming asylum.
"Zimbabwe faces a bad threat from a group of people that has no respect for the law", Biti, who was granted bail Thursday, told the court.
United States ambassador to Zimbabwe Brian Nichols Thursday made a surprise appearance at Tendai Biti's court hearing telling journalists soon after that the decision by Zimbabwean authorities to charge the MDC Alliance politician was "worrisome".
Tendai Biti was released earlier today following my intervention.