Carrie Lam had the backing of the Chinese government but is opposed by pro-democracy groups.
Mrs Lam, 59, had the backing of the Chinese government in Beijing and was widely expected to win.
Hong Kong has a degree of autonomy from Beijing but protests have been growing over Chinese interference.
The chief executive is not chosen by public vote but by a 1,200-strong committee dominated by pro-Beijing electors.
Pro-democracy groups held protests outside the election venue, calling the process a sham.
In her acceptance speech, Mrs Lam said her first priority during her five-year term would be to reduce social tensions.
Source: Hong Kong election: Beijing-backed Lam first female leader – BBC News
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