"I don't like the pact. It's not clearly interpreted and it could be abused," Babis, whose centre-left cabinet is set to discuss the issue next week, said in parliament.
"The United States have pulled out, Hungary too, now Austria, and Poland is debating it as well," he added.
The Global Compact for Migration, whose final text was agreed in July after 18 months of negotiations is set to be adopted during a conference in Morocco on December 10-11.
It lays out 23 objectives to open up legal migration and better manage migratory flows as the number of people on the move worldwide has increased to 250 million, or three percent of the world's population.
The United States quit talks on the pact last December, Hungary's anti-immigration prime minister Viktor Orban rejected it in July and Austria followed suit on Wednesday.
Babis, a Slovak-born billionaire, has taken a strict anti-migrant stance, refusing to accept a single refugee despite pleas from western European EU partners.