CNN made the projection, President Barack Obama was re-elected after capturing the state of Ohio with 50 percent of the votes and about 71 percent of the votes remaining.
He now remains the 44th president of the United States.
Florida was not necessary in this decision after a lot of people were awaiting the projections to wrap up in the Sunshine State, which has been a very problematic state in previous elections.
Crowds in Chicago and New York were immediately shown celebrating.
Obama was trailing for most of the night as Mitt Romney took a lead after polls closed early in the evening.
A bulk of electoral college votes sent Obama into a lead after California, who has 55 electoral votes, Hawaii and Washington were claimed as democratic states.
Little by little states began going over to Obama and he finally clinched with the victory of Ohio as he was sitting on 256 votes. Ohio's 18 votes placed him over 270, the magic number and that means four more years of Obama as president.
Here are some of the states won by Obama: Vermont, Illinois, Maine, Maryland, Massachusetts, Rhode Island, New York, Pennsylvania, Minnesota, California, Hawaii, Washington, Iowa, New Mexico and Oregon. He also won the District of Columbia.
Mitt Romney and the Republican party, according to analysts on CNN, poured $90 million more into this election than they did in 2008, which also ended in efeat.
Romney had the popular vote at the time of Obama's reelection with 780,000 more votes than President Obama. Supporting states were; Kentucky, Indiana, West Virginia, Alabama, Mississippi, Oklahoma, Tennessee, Arkansas, Texas, South Dakota, North Dakota and Arizona.
