The African states' call for the deferral was the biggest challenge yet to the trials of President Uhuru Kenyatta and Vice President William Ruto who are accused of fomenting deadly political unrest.
But the resolution got only seven votes, two below the number needed to pass in the 15-member body.
Eight council nations, all ICC members or supporters including Britain, France and the United States, abstained to ensure the failure of the bid.
It was the first time in decades that a Security Council resolution has failed in such a way without a veto by one of the permanent members.
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The draft resolution said the court case is "distracting and preventing" Kenyatta and Ruto from carrying out their duties.
It took up African Union complaints that the two should be left to handle Kenya's role in battling Islamist militants in Somalia and the aftermath of September's mall attack in Nairobi, which left 67 dead.
Russia's UN ambassador Vitaly Churkin, who backed the resolution, said African countries had presented "most compelling arguments" for a suspension.
The African nations, led by Rwanda, who proposed the resolution faced strong criticism for the challenge and the way it was forced upon the council.
Guatemala's UN ambassador Gert Rosenthal called the vote an act of "contempt" against UN Security Council countries that had sought to help Africa with peacekeeping troops and efforts to boost justice in the continent.
"We are disappointed that this draft resolution was unnecessarily put to a vote," commented Britain's UN envoy Mark Lyall Grant.