Solih is expected to be sworn in as the next President on 17 November 2018.
Maldives opposition leader Ibrahim Mohamed Solih, who fought a bitter election campaign against President Abdulla Yameen, has won Sunday's presidential vote with 16.7 per cent margin.
"This is a moment of happiness, a moment of hope. This is a journey that has ended at the ballot box because the people willed it," Solih, popularly known as Ibu, told reporters in Male.
"The message is loud and clear. The people of Maldives want change, peace and justice. I would like to call on President Yameen to accept the will of the people and begin a smooth transition of power as per the constitution," he said.
Hundreds of people gathered outside the main opposition campaign centre in Male in a jubilant mood, chanting "Ibu, Ibu, Ibu" and calling on Yameen to concede defeat.
Yameen had been expected to cement his grip on power amid criticism over the fairness of the vote on the islands best known as a luxury holiday destination.
Yameen conceded defeat on Monday to Solih in a statement.
"Maldivian people have decided what they want. I have accepted the results from yesterday. Earlier today, I met with Ibrahim Mohamed Solih, who the Maldivian electorate has chosen to be their next president. I have congratulated him," Yameen said in a televised press conference.
Solih is expected to be sworn in as the next President on 17 November 2018, Maldives Ministry of Foreign Affairs said in a statement.
Here is what we know about Maldives' next President:
* Solih became Maldivian Democratic Party’s presidential candidate, supported by other opposition parties after many leaders were or exiled by Abdulla Yameen’s government.
* Solih started his political career as a lawmaker in 1994 but maintained a low-profile before entering the presidential race.
* One of 13 children, Ibrahim Mohamed was born in 1964 in Hinnavaru, Lhaviyani Atoll, according to a report in The Hindu.
* Solih's wife Fazna Ahmed is a cousin of former President Mohamed Nasheed. The couple has two children - a son and a daughter.
* He was one of the founding members of the MDP whose leader Mohamed Nasheed became President after the 2008 election.
* After Nasheed's ouster in 2011 coup, Solih became the leader of MDP’s parliamentary group.
* He was chosen by several opposition parties to contest against Yameen after the President jailed most of the top leaders before and after the emergency.
* As Yameen continued his crackdown, forcing many leaders to flee the country, during his 5-year-rule, Solih became the tallest opposition figure who stayed in the Maldives.
* He, however, maintained a low profile, even during campaigning for the top post.
* While Solih received 134,616 votes, Yameen received 96,132 votes in the Sunday's poll.
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