Tomasdottir obtains 34.6 percent of the votes and becomes the second female president of the Nordic country.
Halla Tomasdottir, a businesswoman and investor, won Iceland's presidential election, leading a large field of candidates in which the top three finishers were women, the country's national broadcasting service reports.
Tomasdottir, 55, was elected to the largely ceremonial post with 34.3 percent of the vote, defeating former Prime Minister Katrin Jakobsdottir with 25.2 percent and Halla Hrund Logadottir with 15. 5 percent, RUV said Sunday.
Tomasdottir is currently on leave as CEO of The B Team, a global non-profit organization co-founded by UK business magnate Richard Branson to promote humanity and climate-focused business practices, and has offices in New York and London.
The president of Iceland holds a largely ceremonial position in the parliamentary republic, acting as guarantor of the constitution and national unity. He or she, however, has the power to veto legislation or put it to a referendum.
Tomasdottir campaigned as someone who was above party politics and could help open debates on fundamental issues such as the effect of social media on young people's mental health, the development of Iceland as a tourist destination and the role of intelligence artificial.
He will replace President Gudni Th Johannesson, who did not seek re-election after two four-year terms. Tomasdottir will take office on August 1.
The second female president of Iceland
Iceland, a Nordic island nation located in the North Atlantic, has a long tradition of electing women to senior positions.
Vigdis Finnbogadottir was the first democratically elected female president of any nation when she became head of state of Iceland in 1980.
The country has also seen two women serve as prime minister in recent years, providing stability during years of political turmoil.
Johanna Sigurdardottir led the government from 2009 to 2013, after the global financial crisis devastated Iceland's economy.
Jakobsdottir, 48, became prime minister in 2017, leading a broad coalition that ended the cycle of crises that had triggered three elections in four years. He resigned in April to run for president.
In the country of 380,000 people, any citizen who collects 1,500 signatures can run for office.
While Jakobsdottir was sometimes seen as the front-runner, political observers had suggested that her experience as prime minister could weigh against her.
Among the other top candidates in the field of 13 were a political science professor, a comedian and an Arctic and energy scholar.
