ABC election analyst Antony Green says there is no doubt Malcolm Turnbull will be returned as Prime Minister, and the Coalition could secure 77 seats and win majority government.
"Malcolm Turnbull is the Prime Minister and will continue as Prime Minister," Green told Radio National this morning, ABC reports.
"In that sense, they have won, it's just simply a matter of whether they have got a majority or not."
He said there should be a clearer picture of the results today.
While the politicians may be set to call the result the Australian Electoral Commission will have to wait days - possibly until the end of next week - to give an official result.
Yesterday an AEC spokesman said in the closest seats - Capricornia, Forde, Herbert and Hindmarsh - the Commission would have to wait until every postal vote had been returned.