Of the tools that are available or envisioned, only a highly efficacious, long-lasting vaccine would provide the degree and duration of transmission-blocking needed to achieve the simultaneous protection applied across a whole population at contiguous risk that is required to reduce and maintain R0 < 1 for that entire area

Plowe, C., Alonso, P., & Hoffman, S. (2009). The Potential Role of Vaccines in the Elimination of Falciparum Malaria and the Eventual Eradication of Malaria The Journal of Infectious Diseases DOI: 10.1086/646613


… taking Bill and Melinda Gates’ challenge to heart and considering it seriously, we have come to the conclusion that eradication just might be possible, but only if a new set of tools are developed that focus on reducing the effectiveness of the mosquito vector. … Could a vaccine alone eradicate malaria? … A vaccine used in combination with antimalaria drugs and vector control could be quite effective in reducing the disease burden. However, eradication is a different story. We would argue that, in addition to vaccines, antimalarial drugs, and presently available vector control methods, eradication will require special tools that we have yet to develop.

Miller, L., & Pierce, S. (2009). Perspective on Malaria Eradication: Is Eradication Possible without Modifying the Mosquito? The Journal of Infectious Diseases DOI: 10.1086/646612

Further reading
Malaria eradication: The smallpox precedent
Malaria vaccination – a victim of its own (feeble) success
Malaria eradication?