With 90 percent of the votes counted, Raisi has so far won 17.8 million votes, securing the majority needed to become the president.
His closest rivals Mohsen Rezaei and Abdolnasser Hemmati secured over 3 and 2 million votes, respectively.
The fourth contender Amir-Hossein Qazizadeh Hashemi also secured one million votes.
The three contenders have all congratulated Raisi on his election victory.
The next president will be sworn in by early August.