Democratic candidate Sen. Barack Obama (D-IL) speaks to his supporters after it is announced he has won the presidential election at his Election Night Rally in Grant Park, Chicago, Illinois, November 4, 2008. (Olivier Douliery/Abaca Press/MCT)

Credit: DKS Editors

Barack Obama has been elected the first black president of the United States. His opponent, Senator John McCain conceded the election earlier in the night, ending a race which has spanned nearly two years.

The new president-elect took to the stage at Grant Park moments ago, greeting a crowd of thousands with his wife and two daughters by his side. The Democrat won 333 electoral votes according to CNN.

“It’s been a long time coming,” Obama said. “Change has come to America.”

He congratulated Senator McCain and Governor Palin for what he called a long fought battle, before thanking his family, campaign staff and grandmother, who died yesterday.

“I will never forget who this victory truly belongs to. It belongs to you,” Obama said. “This is your victory.”

&mdash Staff Report