Trump opened up a significant lead over Democrat Kamala Harris, leaving her supporters hoping for an 11th-hour turnaround, the Reuters news agency reported.
The former president was well on his way to winning the 270 electoral votes needed to return to the White House, while Harris was hoping some late-counting states could turn the tide, it said.
Broadcaster Fox News reported that Trump was poised to defeat Harris and become the 47th president of the United States.
"The Fox News Decision Desk projects former President Trump has defeated Vice President Kamala Harris in a stunning victory, delivering him a second term in the White House after a historic election cycle filled with unprecedented twists and turns and two attempts on his life," Fox News said on its website.
If his victory is confirmed, Trump will be the first American president to serve two nonconsecutive terms since Grover Cleveland in 1892, according to Fox News.
Trump was first elected president in 2016, defeating former Secretary of State Hillary Clinton and vowing to "Make America Great Again." He lost his re-election bid to Joe Biden in 2020 but was all set to reclaim the White House this year after vowing to "Make America Great Once Again," Fox News reported.
Hungarian Prime Minister Viktor Orban, who has openly supported Trump's presidential bid, congratulated Trump early on Wednesday "on his enormous win" and making "the biggest comeback in US political history."
"A much needed victory for the world," Orban wrote on X.
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Source: IAR, PAP, Reuters, CNN, Fox News