Prime Minister Srettha Thavisin made an urgent call on Wednesday to Krisada Chinavicharana, asking the deputy finance minister to reconsider his decision to step down.
Mr Srettha said he had called Mr Krisada before the resignation letter reached his hands so that the unhappy minister would have one more day to ponder the move.
Mr Krisada reportedly decided to quit amid speculation that he was unhappy with what he felt were diminished responsibilities assigned by newly appointed Finance Minister Pichai Chunhavajira.
A former permanent secretary for the ministry, Mr Krisada has reportedly been tasked to oversee the Public Debt Management Office.
His appointment last year came under the political quota of the United Thai Nation Party in the Pheu Thai-led coalition.
Mr Krisada is not the only minister to feel slighted in the recent cabinet reshuffle. Foreign Affairs Minister Parnpree Bahiddha-Nukara quit last week amid unhappiness over losing the deputy prime minister’s position that he also held.