The Thai authorities had given the social media giant until 10am local time on Tuesday (1pm AEDT) to block the offending material or face a shutdown.
The Bangkok Post reported that as of noon on Tuesday (3pm AEDT), the site was still accessible.
Thai Internet Service Provider Association president Morakot Kulthamyothin told the Post that there was no plan to block access to Facebook in Thailand yet.
TISPA includes 19 landline and mobile ISPs and major international Internet gateway operators covering 90% of the country.
Last Thursday, Facebook was told to remove 309 URLs that were deemed offensive to Thailand's monarchy. But the company did not remove 131 of these.
This resulted in a warning, giving it the Tuesday deadline to comply or face closure in the country.