Boris Johnson said he would "definitively, categorically, emphatically" turn down the job of Prime Minister if it was offered to him.
So what challenges await the man tipped by many to one challenge for the leadership of the Tory party?
With defeat at the polls Ken Livingstone, a colourful political figure for over 40 years, has stepped down.
The London Mayor Boris Johnson has said stories that he is planning to be Prime Minister should be "knocked on the head".
During an argument with the London Assembly Chair Jennette Arnold, he laughed off a suggestion that he was "being prime ministerial".
London Mayor Boris Johnson has said that he has "absolutely" no plans to return to the House of Commons, after reports that a Conservative MP offered to sacrifice his seat for him to take on Prime Minister David Cameron.
Mr Johnson said being Mayor was the "best job in British politics and it's what I want to do".
Boris Johnson's spokesman dismissed a report that claimed Conservative MP Zac Goldsmith offered his safe seat to the London Mayor, calling it "fanciful".
Mr Johnson's spokesman said today:
It's no surprise that the Mayor has met and will continue to meet those who share his concerns over the lack of aviation capacity in London and the SouthEast.
But the story in question is without doubt fanciful.
It's no secret the Mayor opposes the building of a third runway, he was re-elected opposing any such notion, he'll continue to oppose any such notion, and he'll be doing it as Mayor of London.
The Mayor believes the Government's announcement of an Independent Commission has at least re-opened the debate on aviation capacity.
That gives him the opportunity to demonstrate why Heathrow expansion isn't the answer, and the creation of a new 4 runway hub airport is.
The Mayor will be doing both in the weeks and months ahead
Reports suggest Mayor of London Boris Johnson could make a comeback to the House of Commons after a Conservative MP offered to sacrifice his seat for him to take on Prime Minister David Cameron.
The Mail on Sunday has reported that Tory Zac Goldsmith has vowed to resign as the MP for Richmond in south west London if the Government revives controversial plans for a third runway at Heathrow airport - which is also fiercely opposed by the London Mayor.
The newspaper said that the idea of Mr Johnson fighting the subsequent by-election to secure a return to the Commons and the chance to challenge for the leadership was made in talks to discuss how best to oppose the airport expansion.
The idea was said to have been dismissed "out of hand" by the Mayor, whose position as a potential challenger to Mr Cameron has been reinforced by the successful London Olympics.
Boris Johnson's father Stanley has been speaking to ITV News' Libby Weiner about his son's re-election as London Mayor.
He said a lot of personal quality came through and it was "a superb achievement".
Speaking at the National Association of Head Teachers (NAHT) annual conference, Education Secretary Michael Gove said the election results were "disappointing", but added he was "delighted that Boris Johnson had won the race for Mayor of London".
History tells us that the important thing for us to do is to take into account the electorate's concerns but to address people's fundamental worries and they are the economy and making sure we reward people that are doing the right thing.
The newly re-elected London Mayor Boris Johnson thanked the people of London for giving him a "second mandate".
David Cameron said he was "delighted to congratulate" the re-elected Conservative Mayor Boris Johnson but added that "now what matters is working together for the good of London".
Ken Livingstone hit out at Boris Johnson this morning, describing him as a 'do-nothing Mayor'. He said: "With the exception of this rather silly little cable car there's nothing else he has started. If we have another four years like that then by the end of this decade London will be insufferable."