Mr Joyce said his decision was "not pre-determined", and if the proposal did get his go-ahead, it would still need to go through Cabinet for sign-off.
The number of submitters for and against the merger was not yet known, he said.
However, on Monday about 35 Rotorua locals and students made it clear where they stood on the merger by protesting outside Waiariki's main campus.
Rotorua mayor Steve Chadwick also sent a letter to Mr Joyce urging him to stop the merger process that was co-signed by chairman of Te Arawa Lakes Trust Sir Toby Curtis and Rotorua Energy Charitable Trust Grahame Hall.
However both Bay of Plenty Polytechnic Council chairman Ian Turner and Waiariki Institute of Technology's council chairman Graeme Nahkies said the parties' concerns were "unfounded".