The election commission said Georgian Dream - which favours co-operation with Russia - is leading with 53 per cent of the vote, securing an absolute majority.
The Unity electoral alliance, which includes the opposition United National Movement, reportedly received around 10 per cent of votes, behind the Coalition for Change camp on around 11 per cent.
Four pro-European opposition blocs that surpassed the five per cent threshold collectively accounted for some 38 per cent of the vote, according to the election commission.
Speaking in the capital Tbilisi, Tinatin Bokuchkva, the leader of the United National Movement, charged late on Saturday that the election commission had "carried out the dirty work of billionaire Bidzina Ivanishvili".
A win for Bidzina Ivanishvili would mean turning away from the EU and closer ties with Russia. (AP PHOTO)
Ivanishvili, 68, is the founder and honorary chairman of the ruling Georgian Dream party, which favours co-operation with Russia.
He had already started celebrating his party's victory shortly after the polling stations closed.
The pro-Western opposition alliance, the Coalition for Change, also declared that it would not recognise the results.
"The elections have been stolen from the opposition. This is a constitutional coup and an abuse of power," politician Nika Gvaramia told a press conference.
Nika Gvaramia says there has been "a constitutional coup and an abuse of power". (AP PHOTO)
Gvaramia charged that the elections had been falsified using a complicated technological scheme, but did not provide any details.
President Salome Zourabichvili, who has close ties to the opposition, said on X that pro-European parties had received 52 per cent of the vote.
"I am proud and confident in our European future," she said.
Voter turnout at 59 per cent.
Voter turnout was around 59 per cent, according to preliminary figures.
Some 3.5 million citizens were called upon to vote both at home and abroad.
A resounding victory for Georgian Dream could threaten the country's chances of joining the European Union after the party enacted a number of controversial laws in recent years.
However, the process is on ice due to those controversial laws.
That is why, in the run-up to the vote, pro-Western forces in particular spoke of a fateful election for the country, which is at a crossroads and where both Russia and the West have a strong influence.
Electoral success for the party founded by billionaire Ivanishvili could mean the country's turning away from the EU and towards closer co-operation with its large neighbour Russia.
Ivanishvili became a billionaire through business deals in Russia.
Around 500 observers from the Organization for Security and Co-operation in Europe (OSCE) are also on the ground. They will deliver their verdict on the election on Sunday.
