After counting about half of the votes, it appears that the 'Tissa' party, headed by opposition leader Péter Magyar, will receive 136 of the 199 seats in parliament.
This is a dramatic figure that is above the two-thirds threshold (133 seats) - if the party reaches it, it will be able to introduce amendments to the constitution and carry out comprehensive reforms that will undo controversial steps taken by veteran Prime Minister Viktor Orban during his 16 years in power.
On the other hand, the ruling Fidesz party led by Orban has collapsed - and at this stage has won only 63 seats.
High voting rates were recorded today compared to recent election campaigns.
The winner, Magyar, reported that the incumbent Prime Minister had already called him and congratulated him on his victory.
Orban himself issued a statement in which he wrote: "The results are clear and they are painful for us. I congratulated the party that won. We will continue to serve the people from the opposition.".
Magyar's victory brings to an end Orbán's long tenure, and will fundamentally change the balance of power within Europe.
