Faye gained 54.28% in the first round.
Former Prime Minister Amadou Ba won 35.79% of the vote.
The presidential elections were held March 24.
As many as 19 candidates competed to succeed incumbent President Macky Sall as president.
Faye is a former tax inspector who served as secretary general of the African Patriots of Senegal for Work, Ethics and Fraternity (PASTEF) party. In July 2023, the country's authorities dissolved the party, accusing its leaders of subversive activities. In the 2024 elections, Faye replaced opposition leader Ousmane Sonko, who was unable to run due to charges against him.
Faye, 44, is the fifth and youngest president-elect in Senegal's history. He is to be sworn in on April 2.