The decision was taken at an emergency Cabinet meeting held here.
Prime Minister Sher Bahadur Deuba had held discussions with five national parties yesterday to finalise the date for the election to the upper house of Parliament.
Earlier, the Election Commission had recommended holding the National Assembly election on February 8.
The upper house will have a total of 59 members. All seven provinces will elect 8 members each through an electoral college comprising of members of state assemblies and chief and deputy chiefs of local bodies while the president will appoint three members.
The alliance had secured 174 seats in the 275-member Parliament in the recently-concluded historic polls that many hope will bring much-needed political stability to the Himalayan nation.