Francois Hollande has been elected France's first Socialist President for 17 years.
He received 52% of the vote against 48% for the incumbent Nicolas Sarkozy.
The front page of the left-leaning newspaper Liberation ran the headline "Normal!" - a reference to the new president's image as a man of the people.
The new president's honeymood period will be brief.
He is expected to be sworn in on May 15th and will travel to Berlin shortly thereafter to challenge Germany's focus on austerity policies.
Mr Hollande ran his campaign on egalitarian principles arguing against the consensus in Brussels that austerity is the way out of the Eurozone crisis.
Today, Germany's Chancellor Angela Merkel said that she would welcome Mr Hollande's contribution to the debate, but that the fiscal pact is non-negotiable.
ITV News' Europe Editor James Mates reports on the day after the celebrations in France.
On Sunday, Mr Sarkozy conceded defeat shortly after the polls closed, telling supporters that "Francois Hollande is the president of France" and that he was "taking responsibility for the defeat".
Hinting about his possible political future, he said he would become "a French among the French":
Supporters of the outgoing French president sobbed as Nicolas Sarkozy conceded defeat at the presidential elections.
Meanwhile, supporters of Francois Hollande celebrated outside Socialist Party campaign headquarters in Paris.
There were both cheers and jeers for the presidential candidates when the results were announced.