Shortly before 8:30 p.m., Tory was shown winning some 262,000 votes, or 39 per cent — followed by Doug Ford with 240,000 and Olivia Chow with 151,000.
Polls closed shortly after 8 p.m. ET in the election, one of the most anticipated and most talked-about votes in Toronto history, which marks the end of Rob Ford's tumultuous time in office.
CBC News is also following the races for Toronto city council, for school trustees and mayoral races elsewhere across the province, including Mississauga, Brampton, Hamilton and Oshawa.
CBC News will stream its coverage live from 8 p.m. ET.
Rob Ford, who is returning to hospital for another round of cancer tests on Wednesday, spent much of the day stumping for votes in his ward. The ailing mayor predicted his older brother would take the mayoral race by a comfortable margin.
In all, 65 candidates were hoping to succeed Ford as mayor, but polls suggested the winner would most likely come from front-runners Tory Chow and Doug Ford.
Tory, 60, campaigned on the promise of a new era of co-operation and consultation after the divisive Ford years. The former CFL chairman and senior telecommunications executive has pledged a return to stability and civility at city hall — something polls suggested many in the city would welcome.
Chow, 57, widow of the late federal NDP leader Jack Layton, began the race as perceived front-runner and campaigned as the "only progressive" candidate. However, polls suggested she failed to capitalize on her initial popularity and would fall victim to strategic voting from those seeking to ensure the end of the Ford era.
Doug Ford, 49, who only joined council four years ago, tried to cast himself as the natural successor to his brother — while also distancing himself from the excesses.