Morrison thanked "quiet Australians" for delivering his party a "miracle" election victory in Saturday's election.
"I have always believed in miracles!" Morrison told a room filled with happy supporters of the Liberal Party, adding, "How good is Australia?"
Initial vote counts indicate that Morrison’s coalition government is to remain in power, Presstv reported.
With half the votes counted on Saturday, it is unclear whether Morrison’s party can govern with an outright majority.
The rest of the ballots are to be counted this weekend.
Pre-election polls, however, had indicated that the Labor Party was set to win the elections.
However, the center-left party suffered a shock defeat in national polls.
The leader of the party, Bill Shorten, conceded defeat late Saturday, saying that the Labor Party would not be able to form government.
He announced that he had decided that he would resign from his post as party leader.
"And without wanting to hold out any false hope … it is obvious that Labor will not be able to form the next government," Shorten said.