President Obama campaigning in New York in September. (Photo: Getty)

President Barack Obama has been declared victorious in the presidential election, earning himself another four years in the White House. NBC News projected President Obama the winner shortly after 11 p.m. making him just the fourth Democrat in the last 100 years to win a second term. 

President Obama won in spite of a sluggish economic recovery and a well-financed campaign from his Republican rival, Mitt Romney. Last month, after Mr. Romney was widely seen as the victor in the first presidential debate, he began to enjoy some momentum in the polls, however it was apparently not sufficient.

According to the White House press pool report, President Obama is currently meeting with staff at the Fairmont Hotel in Chicago. He is due to make a victory address in McCormick Place later this evening.