Tens of thousands of jubilant Brotherhood supporters who gathered in the historic Tahrir square in the capital Cairo were seen bursting crackers after the Election Commission announced the results on Sunday afternoon.
Many of the supporters' faces which were eagerly looking for the results were filled with tears of joy once the announcement was made
In the recently held presidential run-off, the Muslim Brotherhood's Mohammed Mursi has been declared the winner securing 52 percent votes and defeating former dictator Hosni Mubarak's ex-aide, Ahmed Shafiq.
Brotherhood supporters were chanting "Allahu Akbar" and thanked God for choosing Mursi as their president.
"It's a huge joy, it's a legitimate victory, a victory for the revolution, this has allowed us to get rid of the last members of the old regime. Because they are the cause of all Egypt's problems, from the beginning of Mubarak's reign until the present day. The Egyptian people have suffered a lot, but today they can feel relieved, their dreams have come true, the dream of the revolution," Euronews quoted crowds as saying.
Some of those who had gathered even reportedly shouted that Mursi should avenge the "martyrs" of the revolution.
Many of them were shouting slogans against the ruling military council to immediately hand over power to Mursi.
Meanwhile, supporters of the opponent Shafiq were devastated by the outcome of the election. Supporters who had gathered on the outskirts of Cairo hung their heads in distress and many were reportedly seen crying and screaming.
The SCAF took control of Egypt immediately after Mubarak was ousted and vowed to hand over the power to a democratically-elected president before 1 July.
Expectations are also running high from all corners of the world on the much-awaited and long-fought civilian administration that will be in place.