Lai, the current vice president, was in a three-way race with Hou Yu-ih from the conservative Kuomintang (KMT) and Ko Wen-je from the Taiwan People’s Party
Hou conceded defeat on Saturday and congratulated Lai on his victory. He also apologised to KMT supporters for not being able to oust the DPP.
Voters also elected lawmakers to Taiwan’s 113-seat legislature in elections closely watched by China and the United States.
Taiwan’s election carries an outsized importance because of the territory’s disputed political status. While de facto independent since the 1940s, China still claims the island and its outlying territories and has not ruled out the use of force to achieve its ambitions.
China has previously said that Lai would be a threat to peace in the region if he wins, and called the polls a choice between war and peace.
Lai has said he is committed to peace in the region and open to conditional engagement with Beijing. ALJAZEERA