The LNP is projected to form government in Queensland, wresting power from Labor for the first time in almost a decade.
David Crisafulli will become the 41st premier of the state after defeating the Steven Miles-led Labor Party.
ABC election analyst Antony Green said the LNP would likely form a majority government.
“It’s certainly not the landslide everyone thought a month ago,” he said.
The celebrations kicked off around 10pm at LNP headquarters. (ABC News: Chris Gillette)
Mr Miles did not concede defeat, but said the party was unlikely to win a majority.
“Many seats remain too close to call,” he said.
“If you consider what we were up against, this is an extraordinary result.
“This was always going to be a challenging election for Labor, but I have no regrets about the campaign or indeed the last 10 months as premier.”
‘I’ll have a yarn to Steven’
Deputy Labor leader Cameron Dick said he was proud that the party was not reduced to “ruin and rubble” in the way it was expected.
“If we can hold 35 seats, it is a testament to the strength of the resilience of our members and our unions, everyone who fought that ground war across Queensland, campaigning so hard,” he said.
Mr Dick told the ABC’s Queensland Votes panel the party has “to be ready to fight” from opposition.
He refused to say whether he would make a run at becoming the new leader, but said the party must reflect on what the loss meant.
“I will have a yarn to Stephen. It has been a pleasure working with him,” Mr Dick said.
“We have had a fantastic working relationship and I think his leadership has been something very significant.”