According to an unofficial vote count, Ms Jahangir bagged 834 votes while Ahmed Owais got 796 votes.
Highest numbers of votes were polled in Lahore where Ms Jahangir received 419 votes and Owais 409.
She was leading in Quetta, Islamabad, Peshawar and Karachi while Owais was ahead in Multan.
President Asif Ali Zardari, Nawaz Sharif, Chaudray Shujaat Hussain and Pervez Musharraf welcomed Ms Jahangir for winning the presidential seat.
Ms Jahangir said her success is a victory of liberal and democratic forces.