Neupane said that the law was revised to make mountaineering safer and decrease deaths.
Experienced Swiss climber Ueli Steck lost his life in April this year when he slipped and fell from a steep ridge during a solo acclimatisation climb to Nuptse, a peak neighbouring Everest.
The ban is likely to anger elite solo mountaineers, who enjoy the challenge of climbing alone, even eschewing bottled oxygen, and who blame a huge influx of commercial expeditions for creating potentially deadly bottlenecks on the world's tallest peak.
The cabinet also endorsed a ban on double amputee and blind climbers, although Everest has drawn multitudes of mountaineers wanting to overcome their disabilities and achieve the formidable feat.
New Zealander Mark Inglis, who lost both his legs to frostbite, became the first double amputee to reach the top of the 8,848-metre (29,029-foot) peak in 2006.