"We cannot continue negotiations forever,” Cavusoglu told reporters at the UN-backed reunification talks in Crans-Montana, Switzerland.
"This conference on Cyprus is the final one and there should be a conclusion at this round in Crans-Montana," he added, calling on the Greek Cypriot leadership to bring “acceptable proposals” to the table.
Greek media claims about an alleged plan to cut Turkish troop numbers in Cyprus by 80 percent were dismissed by Ankara earlier on Thursday.
Cavusoglu told reporters Ankara could not accept having “zero troops” in Cyprus.
Ankara has maintained a military presence in Cyprus since 1974, to safeguard the Turkish community on the island.
Turkish Cypriot leader Mustafa Akinci and Greek Cypriot leader Nicos Anastasiades met in Crans-Montana on Thursday, joined by Cavusoglu, UN envoy Espen Barth Eide and Greek Foreign Minister Nikos Kotzias.
Akinci and Anastasiades have been involved in reunification talks to create a federal state since May 2015.
The UN is seeking a peace deal to unite Cyprus under a federal umbrella, which could also define the future of Europe’s relations with Turkey, a key player in the conflict.
UN Secretary-General Antonio Guterres is expected to join the ongoing discussions on Friday.
The eastern Mediterranean island has been divided since 1974, when a Greek Cypriot coup was followed by violence against the island’s Turks, and Ankara's intervention as a guarantor power.