Supporters of the ruling party candidate let off fireworks after the result was announced but it may have been more in relief as the outcome was a close call.
The electoral authority said Maduro won 50.7 percent of votes compared to 49.1 for his rival, Henrique Capriles.
As a result, Maduro called on everyone to respect the result and the peace: "If they want to do an audit they are welcome to do it. They can do whatever audit they want to do. We trust in the Venezuelan electoral system. We welcome an audit."
The National Electoral Council says its decision is "irreversible" but allegations of vote rigging are emerging.
Video posted on the internet appears to show unrest as some voters were turned away from the polls.
Other material that has surfaced is said to show a party official accompanying a voter into a polling booth.
Source: Euronews
