No i don't think so, because after the death of Jiraiya he ll be new God father of Naruto's children.
He should be on track to die this arc, hes already escaped death and I cant imagine it happening a second time.
This is how it will happen:
Gaara and naruto arrives about 5 minutes before Madara. Kakashi decides to kamui both naruto, Minato, and Sakura to the other dimension.
Garra and kakashi battles Madara and he takes back his right eye.
Right before Madara put the finishing blow on them, they are saved by Sasuke.
This will all happened in about. 5-8 chapters.
I predict a slaughter coming in the next chapter and onwards.
Kakashi is one of those who may be killed.
I predict that Kakashi will survive and be appointed as the new head of root as Danzo's replacement.