More than 80 percent of voters cast their ballots in favor of Aliyev, who is set to continue a second five-year term after the election, according to figures from different polling firms.
One of the seven presidential hopefuls, Khafiz Gadzhiyev, has acknowledged his defeat and congratulated Aliyev on his victory. The ruling New Azerbaijan party has organized a mass car rally in Baku for celebration.
The re-elected head of state, 46, took office in 2003, succeeding his father late President Heydar Aliyev who established the ruling party in 1992 and was elected president twice in 1993 and 1998.
In the last five years, Azerbaijan recorded a soaring economic growth thanks to the surging energy price.
Located between the oil-and-gas-rich Caspian Sea region and energy buyer Europe, Azerbaijan's gross domestic product (GDP) hit 25 percent in 2007 and is expected to reach 18 percent this year.
A total of 4.8 million voters in the country were registered to vote, according to the Central Electoral Commission (CEC) and exit polls show that the turnover was more than 70 percent.
There were 1,258 international observers from more than 60 countries or international organizations monitoring the election in the South Caucasus country, said the election watchdog CEC.
