Hillary Clinton has called Donald Trump to congratulate him and concede the race.
This makes him the 45th American President after being sworn on January 20.
Following the call, Trump addressed an exhilarated crowd at the Trump Headquarters, New York, where he said he will be a president for all Americans.
He was accompanied by Mike Pence who will be his deputy president.
Trump also commended several family members and friends.
Following the surprise win, CNN said, "Donald Trump will become the next president of the United States in a stunning victory."
Trump's projected victory came down to a handful of key swing states. This is despite months of polling that favoured Clinton.
Florida, Ohio and North Carolina which are battlegrounds cleared the way for Trump’s upset.
Following the projections which favoured Trump, global markets plummeted, with the Dow set to open 800 points down, according to the BBC.
Addressing his supporters, he said, "I just received a call from Secretary Clinton. She congratulated us on our victory."
"It is time for us to come together as one united people."
He added that he expects to have great relationships with other countries.
Trump added, "No dream is too big; no challenge too big. America will no longer settle for anything less than the best. We must reclaim our country's destiny and dream big and bold and daring.
He promised, "I will always keep America first."