Black Press Media is projecting a Liberal win.
Prime Minister Mark Carney is expected to lead the government, with Elections Canada reporting 166 seats for the Liberals, as of 10:45 p.m. A majority government needs 172 seats.
The Conservatives sit at 146 seats, Bloc Quebecois have 23 seats, NDP have seven and the Green Party has one.
Carney took to the stage in Ottawa just before 10:30 p.m. and thanked the leaders of the other parties: Green Party co-Leader Elizabeth May, Conservative Leader Pierre Poilievre and Jagmeet Singh, who announced Monday he would be stepping down as NDP leader after losing his seat.
The Prime Minister won his Ontario riding of Nepean with 63.7 per cent of the vote. As of 10:30 p.m., more than 99 per cent of the polls had been counted.
"I chose to enter politics because I felt we needed big changes in this country, but big changes guided by strong Canadian values, values that I learned at the dinner table from my parents."
Carney said he "has much to be humbled by."
"Over my long career, I have made many mistakes. I will make more, but I commit to admitting them openly, to correcting them quickly and always learning
from them."
He added that while many Canadians chose to place their trust in him and the Liberal Party of Canada, "millions of our fellow citizens preferred a different outcome."
"My message to every Canadian is this, no matter where you live, no matter what language you speak, no matter how you voted, I will always do my best to represent everyone."
Carney said that while he started with humility, now more than ever is a time for ambition.
"It is a time to be bold, to meet this crisis with overwhelming positive force of united in Canada, because we, we are going to build, build, baby, build."
He also pointed to Canada's relationship with the United States.
"The system of open world trade, anchored by the United States, a system that Canada has relied on since the Second World War, a system that, while not perfect, has helped deliver prosperity for a country for decades, is over," he said. "But it's also our new reality. We are over the shock of the American betrayal, but we should never forget the lesson."
Poilievre, meanwhile, took to the stage in Ottawa just before 10 p.m., with his wife Anaida, with his own seat in jeopardy.
"I thank you from the bottom of my heart to the millions of people who voted for the Conservative Party and put their hopes and dreams in our vision. Thank you. It will be an honour to continue to fight for you and to be a champion."
Poilievre was not expected to win his riding of Carleton in Ontario, placing second with 46.6 per cent of the vote, with 86.5 per cent of the polls reporting.
However, Poilievre said there is much to celebrate, with the Conservatives gaining more than 20 seats from the 2021 federal election.
"We got the highest share of vote our party has received since 1988. We denied the NDP and liberals enough seats to form a coalition government."
He added Conservatives "did all of this in a very difficult environment."
"We are cognizant of the fact that we didn't quite get over the finish line."
He congratulated Carney on leading a minority government. That comment was met with "boos" from the audience.
"We'll have plenty of opportunity to debate and disagree, but tonight we come together as Canadians. We will do our job. Yes, we will do our job to hold the government to account, but first, we congratulate people from all political backgrounds of participating in the democratic process."
Meanwhile, Jagmeet Singh announced he would be stepping down as NDP leader. Taking the stage with his wife, Gurkiran Kaur Sidhu, Singh said it has been the honour of his life to represent the constituents in Burnaby.
He's served as party leader since 2017 and served as MP for Burnaby South from 2019 to 2025.
Singh also thanked Carney for protecting Canada against Trump. He added that despite everyone's political affiliations, everyone is on "Team Canada."
He added the NDP caucus did a lot of great work during his years as leader.
"No election result will ever diminish that."
Green Party co-Leader Elizabeth May was re-elected in Saanich-Gulf Islands. She has held the seat in her riding since 2011.
While speaking to media after her win, May said she wasn't surprised by the results, and she's excited to get back to work in Ottawa.
"I'm very pleased that we're going to play a role in a minority parliament. In a majority situation we'd have much less chance to make a difference," she said. "And when we say elbows up, we also have to mean that we're working together, not elbows up against each other. We have to pull together as a country now more than ever."
