Parliament included the issue on its agenda for Thursday after the annulment of the deal was approved by the last of three key parliamentary committees earlier on Tuesday.
The base has been used to support NATO operations in nearby Afghanistan since 2001.
President Kurmanbek Bakiyev announced plans to close down the airbase after talks on February 3 in Moscow, where he secured substantial financial aid from Russia.
Both Russia and Kyrgyzstan have denied that the move to close down the base is linked to the aid deal, under which Russia will write off Kyrgyzstan's $180 million debt and grant the country a $2 billion soft loan and $150 million in financial assistance.
The Manas airbase currently hosts some 1,200 U.S. military personnel and nine military transport and refueling planes. Agreements on the use of the base will also be terminated with the Netherlands, Canada, New Zealand, Denmark, Spain, France, Australia, South Korea, Italy, Turkey and Norway.
The United States will have 180 days to withdraw its aircraft and personnel from the base once the agreement is formally terminated.