Khoza said her new party will win the elections through honestly and using its "high moral compass".
The African Democratic Change (ADC) was launched by her on Friday in Braam where she made her intentions of winning the elections clear.
The new party is born out of a merger with civil society organisations and members from other political parties.
Khoza said her party plans to win elections based on the party's high moral compass.
"Ours is not about numbers. Yes, we want to win the elections, but we want to with the elections on a moral and ethical platform."
The ADC is currently holding a founder's conference aimed at outlining a strategy to contest in next year's highly anticipated elections.
Khoza resigned from the ANC in August, following harassment by members of the governing party for speaking out against corruption.
She was then removed as chairperson of the portfolio committee on public service and administration.