His center-right Conservative party won the most seats in parliament, with Prime Minister Gordon Brown's Labour party in a close second, and the Liberal Democrats in third. The division of seats means that Britain has a hung parliament for the first time since 1974.
"It's the Mick Jagger election. It's no satisfaction. Everybody is utterly dissatisfied with the outcome." Peter Hennessy, a constitutional expert, told the BBC.
Cameron, as the head of the party with the most seats and thanks to a decision by Nick Clegg the Liberal Democrat leader, and kingmaker of this close election, will most likely be the country's next prime minister.
"Nick Clegg has said that, because the Conservative Party won the most votes and the most seats in this election, we should have the chance to form the government. And I thank him for that."
Political pundits are speculating over the various scenarios that could ensue, debating over which parties will form a coalition and when.
All three leaders have made it clear today that they are open to negotiations.
Clegg and Cameron are to meet tonight to discuss how their parties could work together in the future.
Brown recognized this in his statement today and said that Clegg and Cameron should "be entitled to take as much time as they feel necessary."
But Brown did not discount himself from participating in future government negotiations and went on to make his own overtures toward the Lib Dem leader, saying he was willing to discuss with him, "the areas where there may be some measure of agreement between our two parties."
One such area Brown highlighted is electoral reform, a key issue that was integral to Clegg's campaign, and something that Cameron in the past has said he doesn't want to change.
"There needs to be immediate legislation on this to begin to restore the public's trust in politics," Brown said today, reinforcing Clegg's earlier comments.
This election campaign has made it abundantly clear that our electoral system is broken." Clegg said this morning. "It simply doesn't reflect the hopes and aspirations of the British people."
"Britain voted for change yesterday. But it also voted for a new politics. It did not vote for party political bickering, grandstanding and point-scoring. Our country's problems are too serious, they are too urgent for that." Cameron told his supporters, as he laid out the possible scenarios his party was considering.
Cameron, who holds enough seats to go it alone and form a minority government, also reached out to the Lib Dems, "So I want to make a big, open and comprehensive offer to the Liberal Democrats. I want us to work together in tackling our country's big and urgent problems,"
He too mentioned electoral reform when speaking to his supporters today, "On our political system, we agree with the Liberal Democrats that reform is urgently needed to help restore trust, and that reform must include the electoral system."
Those comments were in stark contrast to his position last month when he told reporters, "I don't want the electoral system to change. I think it would be a big, big mistake for this country."