Prime minister David Cameron addressed reporters outside Number 10 Downing Street where he talked about rebalancing the economy and devolving power to Scotland.
"I've been proud to lead the first coalition government in seventy years and I want to thank all those who worked so hard to make it a success," he said.
"We will govern as a party of one nation. One United Kingdom. That means ensuring this recovery reaches all parts of this country ... and indeed it means rebalancing our economy."
He also promised to ensure regional reforms agreed in the previous parliament were enacted, saying he intended to make Scotland the strongest devolved body in Europe.
The SNP was victorious in Scotland, gaining 56 of the country's 59 seats and becoming the third largest party in Westminster.
But it's been a torrid day for the other main political parties.
Labour leader Ed Miliband stood down after his party's defeat saying the party had "come back before and this party will come back again".
And Lib Dem leader Nick Clegg also quit after an electoral bloodbath left his party with just eight constituencies.
"I always expected this election to be exceptionally difficult for the Liberal Democrats, given the heavy responsibilities we've had to bear in government in the most challenging of circumstances," Clegg said.
"But clearly results have been immeasurably more crushing and unkind than I could ever have feared."
Read more here: Which party leaders have resigned?
Find out who won where using our General Election results map: