Russia's President Vladimir Putin (L) and First Deputy Prime Minister Dmitry Medvedev wave to the crowd during a concert in Moscow March 2, 2008. (Xinhua/Reuters Photo)
Medvedev, 42, is thus to become the state's youngest ever president-elect. He appreciated his supporters in a short address on the Russia Today TV channel following the announcement and pledged to improve people's life.
The other candidates, Communist leader Gennady Zyuganov won 17.72 percent of votes, Liberal Democratic Party of Russia leader Vladimir Zhirinovsky 9.36 percent, and Democratic Party leader Andrei Bogdanov 1.28 percent.
The turnout was nearly 70 percent or around 74.75 million eligible voters.
There are about 109 million eligible voters for the election. In some remote areas, voting started about two weeks ahead of the March 2 polling day.
The former law professor and a close ally of Putin has repeated for times to continue Putin's policy after his election.
The new president is expected to be sworn in on May 7.
(Xinhua News Agency March 8, 2008)