The plans, to stop abortion even in cases of fatal foetal abnormalities or when the woman's life was at risk, had been introduced by a citizens' initiative and was heavily supported by the Church.
The proposals had gathered some 450,000 signatures, and they set out plans for abortion to be outlawed even in cases of rape, with prison terms for women who ended a pregnancy.
It sparked massive street protests across the nation, as well as in other European countries, on Monday.
Originally, the Church had the support of many members of the conservative ruling party, Law and Justice.
However, the party has since backed away from it and MPs voted against it 352-58 on Thursday.
The Catholic nation already has among the most restrictive abortion laws in Europe, with abortion only allowed a few cases - rape or incest, when the mother's life is in danger or the foetus is badly damaged.
The ruling party has a core of ultra-conservative Catholic voters that wanted to see further restrictions to the abortion law but now opinion polls show the party's support has now fallen to its lowest point since it won elections one year ago.
