Exit polls from Bolivia's presidential election indicate Luis Arce has won the country's presidential election.

Arce, who hails from the Movement for Socialism Party, bagged more than 50% of the vote making him the new president, an unofficial count indicated on Monday.

The big win for Arce ruled out earlier opinion polls that had predicted the election would go to a run-off.

The leftist candidate Arce was running against former centrist president Carlos Mesa, who gained second place with some  31.5% of the vote.