Russia's presidential candidate Vladimir Putin announced that he has won the election.

Russian Prime Minister and presidential candidate Vladimir Putin, left, flanked by President Dmitry Medvedev, has tears in his eyes as he addresses a massive rally of his support at Manezh square outside Kremlin, in Moscow, Russia, Sunday, March 4, 2012.

Tears streamed down Putin's cheeks at a victory rally attended by 70,000 supporters in central Moscow.

Exit polls show that Putin will win the Russian presidency with an overall resounding victory.

According to the Central Electoral Commission Chairman Vladimir Churov, Putin gained 61% of the votes, ruling out a second round of voting. Communist party leader Gennady Zyuganov was in second with more than 17% of the vote.

Russian Prime Minister and presidential candidate Vladimir Putin, left, talks to the media at a polling station in Moscow, Sunday, March 4, 2012.

Other candidates finishing further behind include nationalist Vladimir Zhirinovsky, former parliamentary speaker Sergei Mironov and billionaire metals tycoon Mikhail Prokhorov.

Vladimir Putin said: "We have won in an honest and fair combat. But it was not just an election to decide Russia's president. It was a very important test for all of us, for all our people. We have shown that no one can impose anything on us. We have shown that our people are able to tell that they wish for something new, for renovation, from political provocations which have only one goal: to destroy Russia's statehood and to usurp power. We have won today also thanks to overwhelming support of the overwhelming majority of our voters. We had a clean victory."