The Wolfpack hired Keatts, 44, to replace Mark Gottfried, who was fired after six years in Raleigh.
The focus for the Wolfpack now becomes finding the next coach.
The championship game is scheduled for Saturday at 9 p.m.
Jackson finished with 24 votes to 15 for Wake Forest’s John Collins.
The Wolfpack (15-15, 4-13) made a last-stand run to get within 59-51.
In his three seasons with the Seahawks, Keatts has a combined record 67-27.
North Carolina State dealt a blow to Georgia Tech’s slim NCAA Tournament hopes.
Mark Gottfried walked out to loud applause from N.C. State fans before the game Saturday.
The loss was the Wolfpack’s first game since the announcement that coach Mark Gottfried is out after the season.
Gottfried will coach the remainder of the season.