There have been complaints that Zetter's nomination to run in the election was wrongly accepted by the CIPR because it was submitted after the deadline.
It means that the whole process, in which Miti Ampoma was runner-up, will have to be repeated, most likely in the New Year.
The decision was made today following a report recommending the move by the CIPR's regulatory consultant Martin Horrocks.
Horrocks is understood to have looked at a number of complaints around the process, of which late submission was one.
A CIPR spokesman issued the following statement:
'The Chartered Institute of Public Relations (CIPR) conducted elections for its 2014 president in October 2012. Two candidates stood for election. They were Miti Ampoma FCIPR and Lionel Zetter FCIPR.
'Under CIPR regulations on the conduct of elections, there is a one-week period after the results are published when complaints can be received. In the week following the elections, a complaint was made about a decision to allow one candidate's nomination to be received after the deadline for submissions had passed.
'In line with CIPR regulations governing complaints about election processes, a report was commissioned into the conduct of the elections for consideration by the CIPR Council at a meeting on 19 November.
'The CIPR Council has today considered the report. It has voted that the acceptance of a late nomination has invalidated the result of the election and that the CIPR should take action in line with Article 8 of the Election Regulations. This states that Council can order a fresh election.
'The CIPR will today inform both candidates and all CIPR members of the Council's decision and further information on a fresh election will follow.
'The report also contained recommendations for procedural improvements for the conduct of CIPR elections and any required regulatory changes will be considered and voted upon at the next scheduled Council meeting before a new election is called.'
Nominations are made by CIPR members for candidates rather than the candidates themselves.
PRWeek reported that Zetter, who would have taken on the role in 2014 after next year's president Sue Wolstenholme, had mooted closer ties with the PRCA.