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Recep Tayyip Erdogan has declared victory in the country's key presidential election, a result that will allow him to keep his seat with increased powers and become Turkey's first executive president.

Turkish President Tayyip Erdogan speaks to the press after casting his ballot at a polling station in Istanbul, Turkey, on June 24, 2018.

With about 30 per cent of votes counted in the presidential race, Erdogan had 58 per cent, well ahead of his closest rival, Muharrem Ince, of the main opposition, secularist Republican People's Party (CHP), on 27.5 per cent, broadcasters said.

Polls across the country officially closed at 5 p.m. local time in the elections where previously divided opposition parties have come together in a tenuous alliance in an effort to end what they call Erdogan's march toward "one-man rule".

Recep Tayyip Erdogan has declared himself the victor of a high-stakes Turkish election, as he looks to consolidate his power on a nation he has ruled for 15 years.

Erdogan, 64, is seeking re-election for a new five-year term, and his ruling Justice and Development Party, or AKP, is hoping to retain its majority in parliament.

Speaking at the YSK headquarters in Ankara after presidential and parliamentary elections, Sadi Guven also said the pro-Kurdish People's Democratic Party (HDP) had passed the 10 percent threshold needed to enter parliament.

Ince also repeated his accusation - made by other opposition politicians too - of political bias by Turkey's state media, which has given Erdogan and the AK Party heavy coverage while often neglecting to broadcast opposition rallies.

If confirmed, the figures would show Erdogan polling on a similar rating or even stronger than his 2014 election victory where he won his first mandate after over a decade as prime minister. One party supporter, Nejdet Erke, said he had been "waiting for this emotion" since morning.

In the parliamentary contest, the AK Party had 43 percent and its MHP ally almost 11 percent, based on 90 percent of votes counted, broadcasters said. Analysts said the incumbent may also have feared a sharp slowdown in the economy expected later this year would lose him support if the elections had been held on schedule.

Bulent Tezcan, a spokesman for Ince's CHP, said party observers had been kept away from polling stations in the southeastern Sanliurfa Province with "blows, threats and attacks".

If Mr Erdogan's win is officially confirmed, he will gain sweeping new powers when he resumes office.

His supporters say only Erdogan can guarantee Turkey's economic and political stability in hard times.

The lira, which has lost about a fifth of its value against the dollar this year, firmed more than 1 percent in early trading in Asia on hopes of a stable working relationship between the president and parliament.

More than 59 million Turkish citizens, including some 3 million living overseas, were eligible to vote.

But he reckoned without Mr Ince, a former physics teacher and veteran CHP lawmaker, whose feisty performance at campaign rallies has galvanised Turkey's long-demoralised and divided opposition. Erdogan accused his late ally and now nemesis, US-based cleric Fethullah Gulen, of masterminding the coup.