An alliance led by Bangladesh's former prime minister Sheikh Hasina won a massive parliamentary majority in the country's first election in seven years.
Following two years of emergency rule imposed by an army-backed interim government, the 'Grand Alliance' has so far won 255 seats in the 300-seat parliament, officials said.
A rival party complained of irregularities but it is unclear if they will accept the results or take their supporters onto the streets to protest.
Independent monitors report that the election appeared largely fair and credible.
'It's critical that both sides accept the result ... If not, Bangladesh risks sliding back into the anarchy, violence and corruption that have characterised its past,' US-based Asian Society Fellow Sheridan Prasso said.
Just 31 seats went to a group led by Begum Khaleda Zia, who was Bangladesh's first female prime minister between 1991 and 1996.
It was the worst showing ever for her and her party.
Ms Hasina, who served as Bangladesh's second female prime minister before a landslide defeat in 2001, spent the past two years battling extortion and murder charges.
Her landslide victory could prove a problem by raising expectations she can deliver on all her election promises.
'People might now think that with the biggest election success of the Awami League since 1970, Hasina will arrange for them everything she listed in the election manifesto,' Bangladesh Political Science Association chairman Ataur Rahman said.
'But such things would be difficult in the current global scenarios, especially the international financial crisis.'
Foreign direct investment in Bangladesh in 2007 was €470m, down from €559m in 2006.
Hasina has pledged to contain prices and promote growth in a country of more than 140m people and where 45% of the population live below the poverty line.
Peaceful polls
The poll was generally peaceful, with both independent observers and many voters saying they saw few glitches. Previous elections were marred by widespread accusations of vote-rigging.
Analysts said it may be less important who won than that the losers accept the results.
Problems went unresolved during the 15 years while Ms Hasina and Ms Khaleda were in power partly because of protests, strikes and street violence from their parties when out of office. The turbulence has kept investors away and distracted the government from other challenges.
Bangladesh's neighbours also worry that an increasingly violent Islamist militant minority could provide support and shelter for radicals in their own countries.
Most Bangladesh Muslims are moderates, however. Analysts said Khaleda suffered from the presence in her alliance of Islamist party Jamaat-e-Islami. Its chief and other leaders lost their seats as its parliamentary members dropped from 17 to 2.
Barring any protests, the interim government's home affairs minister said the new government will take charge in about 10 days.
