Guaido has claimed to be Venezuela's rightful president since 2019 and the Organization of American States, which is hosting its General Assembly in Lima, has recognized him.
But Guaido has never actually held power, and the country remains led by socialist President Nicolas Maduro.
At the OAS Summit, major Latin American nations led by leftist leaders voted in favor of discussing the possibility of ousting Guaido's representation to the OAS.
While 19 nations voted in favor and only four against, the motion fell short of the necessary 24 votes. The OAS counts 35 nation members.
The vote was symbolic of a recent shift in Latin America, with leftist leaders replacing more conservative governments in Chile, Colombia and Peru since last year.
Nations voting against Guaido included Mexico, Argentina, Chile, Colombia and Peru. Brazil and Ecuador abstained.
Guaido's OAS representation announced ahead of the Assembly that they would not attend. Maduro announced his withdrawal from the OAS in 2017.
Peru's vote was notable as the Andean nation was once the driving force behind the so-called Lima Group, a bloc of nations opposing Maduro that once backing Guaido's claim to the presidency.
Peruvian foreign minister Cesar Landa told Reuters last week that the Lima group had "ceased to exist."
"Countries have been stepping away and Peru is promoting dialogue so Maduro's government is recognized, as well as a legitimate opposition and for transparent elections to be held," Landa said.
(Reporting by Marco Aquino and Marcelo Rochabrun; Additional reporting by Sarah Morland and Brendan O'Boyle; Editing by Marguerita Choy)
By Marco Aquino and Marcelo Rochabrun
