Sweden's Prime Minister Fredrik Reinfeldt waves at the election night party of the Moderate Party in Stockholm, September 14, 2014. [Photo/Agencies]

STOCKHOLM -- Swedish Prime Minister Fredrik Reinfeldt declared his resignation on Sunday night amid disappointing results of his center-right government in the 2014 parliamentary election.

Reinfeldt made this declaration when addressing his Moderate Party on Sunday night when they were witnessing the disappointing results.

"The election is over and the Swedish people have made their decision," Fredrik Reinfeldt said.

He announced that he would be stepping down and would not fight for the position of prime minister for another term - and would also be leaving his post as Moderate party leader.

"I will hand in my notice tomorrow. All these years under the Alliance have been fantastic," he told the crowd.

Meanwhile, Social Democrat leader Stefan Lofven is ready to lead the opposition "red-green" alliance, which narrowly beat the Reinfeldt-led center-right government.

Preliminary results of the 2014 Swedish Parliamentary elections show on Sunday night the opposition "red-green" alliance harvested 43.5 percent votes, while the center-right government gained 39.5 percent votes.