The independence-leaning ruling Democratic Progressive Party won last year's presidential election, but the China-friendly Nationalists, also known as the KMT, and the smaller Taiwan People's Party have enough seats to form a majority bloc.
Official preliminary results showed that the recall efforts failed to remove any of the two dozen KMT lawmakers.
The scale of the recall elections is unprecedented, with another seven KMT lawmakers facing a similar vote on August 23.
The KMT currently holds 52 seats, while the ruling DPP holds 51 seats.
For the DPP to secure a legislative majority, at least six KMT MPs would need to be ousted, and the ruling party would need to win the by-elections, which must be held within three months of the announcement of results.
For the recall to pass, more than a quarter of eligible voters in the electoral district must vote in favour of it, and the total number of supporters must exceed those voting against.
The poll closed at 4pm local time. Taiwan's Central Election Commission will announce the official results on August 1.
If next month's poll results are also unfavourable to the DPP, it would mean that the government of Taiwan President Lai Ching-te could continue to face strong resistance from within the legislature before elections expected to take place in 2028.
KMT chairman Eric Chu told reporters that voters had used their ballots to prove Taiwan's democracy is mature and great, calling for an apology from Lai.
"All Taiwanese people chose stability, chose that the government should focus on getting things done, rather than engaging in bitter political fighting," he said.
Despite their huge effort, those backing the recall were facing an "uphill battle" in trying to unseat MPs in well-organised, strongly KMT districts, said Lev Nachman, a professor of political science at National Taiwan University.
The result is going to make it even harder for Lai to push his agenda forward, especially ahead of local elections next year, said Nachman, who is an expert on Taiwan's elections.
Fu Kun-chi, one of the most powerful and controversial MPs targeted, said the result left Lai with no option other than to meet with the opposition and "find a way for Taiwan to proceed in a more stable way in this chaotic world".
DPP Secretary-General Lin Yu-chang said they humbly accepted the results, saying the recall should not be reduced to a victory or defeat for political parties and that it should be seen as a demonstration of civic power.
He said his party has the responsibility to reflect on public sentiment more cautiously and adjust its approach to meet people's expectations.
Those who support removing the 24 MPs have criticised the KMT and its allies for blocking key legislation, especially the defence budget, and passing controversial changes that are seen as diminishing the power of the executive and favouring China, which considers the island its own territory.
But the KMT has accused the ruling party of resorting to political retaliation after it lost the legislative majority, saying the recalls were undermining and challenging Taiwan's democratic system.
The elections have intensified tensions between those backing the status quo and those favouring improved ties with Beijing.
Critics accuse China-friendly politicians of compromising Taiwan and take issue with their meetings with mainland Chinese politicians.
But these Taiwanese politicians claim their connections are vital for dialogue, given Beijing's refusal to interact with the DPP.
Taiwan's mainland affairs council said Wednesday that the Chinese authorities and state media had tried to blatantly interfere with the vote.
