"It's been a long time coming. But tonight, because of what we did on this day, in this election, at this defining moment, change has come to America," he said in front of a crowd of 65,000 people.
He continued: "All of those watching tonight from beyond our shores, in the parliament and in the palaces, those huddled around radios in the forgotten corners of the world, our stories are singular but our destiny is shared.
"A new dawn of American leadership is at hand," he said to applause.
"To those who would tear the world down, we will defeat you.
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To those who seek peace and security, we support you.
"We have proved that the true strength of our nation comes not from the scale of our wealth but from the power of our ideals -- opportunity, democracy, liberty and hope."
He paid tribute to his campaign team, his wife, children and recently deceased grandmother.
"Along with the family that made me who I am.
I miss them tonight. I know that my debt to them is beyond measure