Elections Commission President Fuad Thaufeeq announced that Abdulla Yameen won 111,203 votes in Saturday's election, or 51.39 percent of the votes, at a press conference, Xinhua reported.
Former president and candidate for the Maldivian Democratic Party (MDP) Mohamed Nasheed garnered 105,181 votes, or 48.61 percent.
The commission said a formal announcement of Yameen's victory would be made early Sunday ahead of his inauguration later in the day.
According to Fuad, the voter turnout for the run-off was 91.41 percent with 218,621 people voting out of the country's 239,165 eligible voters.
Nasheed has earlier conceded defeat at a press conference.
The president-elect said at his press conference that he would try to announce his cabinet Sunday.