Right-wing multimillionaire Sebastian Pinera won Sunday's presidential election run-off in Chile, with 51.87 per cent of the votes, dpa reported.
Pinera's win is historic, as it is set to take power off the hands of the centre-left coalition that has led Chile since the return of democracy in 1990.
It is also the first time that the right has risen to power by democratic means in Chile since 1958.
Ruling-coalition candidate Eduardo Frei, who already ruled Chile 1994-2000, got only 48.13 per cent of the votes, based on a preliminary official count of over half the ballots cast, electoral authorities said in Santiago.
The outgoing Chilean government was quick to acknowledge defeat.
"These results seem irreversible," Interior Minister Edmundo Perez Yoma admitted.
Pinera's supporters started to celebrate their triumph on the streets of Santiago.