Sepp Blatter has defeated Prince Ali bin Hussein of Jordan in the presidential election at the FIFA Congress in Zurich.
There was set to be a second round of voting in the election after Mr Blatter earned 133 votes to Prince Ali bin Hussein of Jordan's 73, with the incumbent narrowly failing to achieve the required two-thirds majority.
Mr Blatter missed out on the 140-vote target by just seven votes, with three of the 209 votes cast deemed invalid.
However, Prince Ali withdrew from the race, meaning Mr Blatter will serve a fifth term as FIFA president.
"It has been a wonderful journey. I want to thank all those brave enough to support me, but I will be withdrawing from the race. I wish you all the best of luck for the future," he said.
Mr Blatter's victory comes despite a week of crisis for the world governing body which saw seven FIFA officials arrested in Zurich and 18 people connected to football indicted on corruption charges by the US justice department.
Earlier, European countries indicated they are set to mount further challenges to Mr Blatter’s authority.
Former Manchester United chief executive David Gill said he would reject his position on the Fifa executive committee if Mr Blatter did not go.
Addressing the delegation at FIFA's Congress in Switzerland this morning, Mr Blatter urged the membership to remain unified.
"Today, I am appealing to unity and team spirit so we can move forward together," he said. "It may not always be easy but he we are here together today to tackle the problems that have been created. We are here to solve them."
"I think the important point today is to move ahead and the important point is transparency. The important point is where does FIFA stand in the world. It is the fight against corruption, against match fixing, racism and discrimination which we still have and this hurts.
"Let's show to the world we are able to run our institution which is FIFA we can do it together."
Speaking on RTÉ's Morning Ireland, FAI Chief Executive John Delaney said that if Mr Blatter loved football he would do the honourable thing and step down.
Mr Delaney said Mr Blatter had lost some support due to the corruption probes launched this week by US and Swiss authorities but that he still expected him to win a fifth term.
Mr Delaney said in his tenure he has never voted for Mr Blatter and that he is not the man to lead FIFA forward.
Mr Delaney added he believes Mr Blatter views FIFA as an empire and that it has "this huge power".
"He has a big ego. When he requires you he can try flatter you but in my opinion, and many people in Europe, personality aside, he is not the person to be leading FIFA going forward."
UEFA president Michel Platini declared "enough is enough" and demanded that Mr Blatter quit in face-to-face talks yesterday.
Mr Platini warned all options would be considered - and did not rule out a World Cup boycott - while sponsors turned up the heat on Mr Blatter.
Virgin chairman Richard Branson even called on companies to ditch their ties with the world governing body.
Dawn raids by Swiss police on Wednesday saw arrests of seven FIFA officials including Jeffrey Webb, a FIFA vice-president from the Cayman Islands who holds a British passport and fellow vice-president, Eugenio Figueredo from Uruguay.
All are challenging extradition to the USA where authorities have indicted 18 people on corruption charges.
Timeline of FIFA controversy
Leading FIFA executives under investigation
Mr Blatter, however, refused to resign and tackled the crisis head on at the FIFA Congress opening ceremony, referring to "unprecedented and difficult times for FIFA" and saying corruption brought "shame and humiliation on football".
He said: "It must fall to me for the well-being of our organisation to find the way forward to fix things.
"Actions of individuals bring shame and humiliation on football and demand action and change. We cannot allow the reputation of football and FIFA to be dragged through the mud any longer, it has to stop - here and now."
Mr Platini did not rule out the possibility of a World Cup boycott but said UEFA members may follow the example of English FA vice-chairman David Gill, who said he will refuse to serve on FIFA's executive committee if Mr Blatter is re-elected.
Platini marks 30th anniversary of Heysel disaster
Mr Platini said UEFA would unite behind Prince Ali and when asked if a boycott of FIFA competitions was a possibility, replied: "UEFA associations will meet in Berlin next week. We will be open to all options."
Pressed further on the prospect of a World Cup boycott, Mr Platini added: "There may be proposals. I honestly don't wish that."
He confirmed he had personally pleaded with Mr Blatter to quit. He said: "I have had enough - enough is enough, too much is too much. I am the first to be disgusted."
He also said a minimum of 45 or 46 of UEFA's 53 voting associations would back Prince Ali but warned Mr Blatter's decision to stay meant his support was still strong.
The US Department of Justice charged 18 people over alleged bribes totalling more than $150m paid for television rights, sponsorship deals and World Cup votes, with the payments allegedly transferred using American wire and banking facilities.
In a separate development, the Swiss attorney general also opened criminal proceedings over the awarding of the 2018 and 2022 World Cups, seized documents and electronic data from FIFA HQ, and police have started questioning the ten current FIFA ExCo members who voted on that tournament.
Mr Gill, the former Manchester United chief executive who is due to take over as Britain's FIFA vice-president today, expressed amazement at one of the charges listed in the US justice department indictments, which said that World Cup bribes were channelled via a FIFA bank account.
The 164-page indictment states disgraced former FIFA vice-president Jack Warner agreed a bribe of $10m US dollars with South African bid officials to vote for the 2010 World Cup with the cash transferred via a FIFA bank account in Switzerland, on the authority of an unnamed "high-ranking FIFA official" to an American bank account controlled by Mr Warner.
It added that the money was FIFA "funds that would otherwise have gone from FIFA to South Africa to support the World Cup".
Zurich police investigate congress bomb threat
Swiss police are investigating an anonymous bomb threat at the FIFA congress that briefly halted proceedings.
The threat was made by telephone to a Zurich-based newsroom this morning, Zurich city police said, adding that no one had been evacuated from the congress.
However, participants in the congress, which paused for lunch 45 minutes earlier than expected, were initially denied re-entry into the building while officers searched the building, a Reuters witness said.
"A search was carried out. The premises have been cleared by the authorities," FIFA Secretary General Jerome Valcke told the congress after it resumed.
