He said the SABC was trying to keep the EFF out of the public eye.
The public broadcaster allocated free slots to political parties contesting the general elections on radio and television.
Malema said his party submitted its advert, which was supposed to be aired on April 20, but was not.
The EFF would take legal action against the SABC and would roll out mass action on April 29.
"SABC, which reports to Luthuli House, has acted in the interests of their wishes to suppress the fact that the ruling party imposed e-tolls on South Africans," he said.
"The advert must be aired on SABC television to allow voters... so that they make an informed choice about who should govern, particularly in Gauteng."