Viktor Yanukovych, locked in a lengthy power struggle with the president, said: "Politicians should sit down at the negotiation table.
If a decision to hold early elections cannot be made through the courts, we could adopt it through political discussions."
President Viktor Yuschenko signed a decree Thursday, which amended the previous April 2 order setting early elections for May 27 and dissolving parliament.
The move came shortly before the Constitutional Court issues a decision on his initial decree, which is widely expected to be unfavorable.
The premier said amendments had to be made to the budget to finance elections, and the Supreme Rada's powers had to be reinstated to achieve this.
He added he hoped to meet with the president soon to relay the proposals.
The 18-judge Constitutional Court said Saturday it had not started looking into the new decree yet, and were still hearing the original decree.
"[The legislature's] request for this [new] inquiry is being studied at the moment," the court said.
The standoff, triggered by the defection of 11 pro-presidential lawmakers to the majority parliamentary coalition backing the premier in late March, has plunged the ex-Soviet nation into its worst political crisis since the 2004 "orange revolution."
Thousands of Yanukovych and Yushchenko backers have been rallying in central Kiev, bringing back memories of mass protests that swept Yushchenko to power after Yanukovych lost the presidential poll over vote rigging accusations.
Russia's Vladimir Putin and Angela Merkel, who is currently holding the EU rotating presidency, discussed the current situation in Ukraine over the telephone.
The Kremlin press service said Putin and Merkel said it is essential to resolve all matters within the bounds of law and the country's Constitution, underlining the importance of the upcoming ruling by Ukraine's Constitutional Court.
Source: RIA Novosti