He holds the seat of former President Sergey Sarkissian, who, according to opposition leaders, may remain in office as prime minister.
Sargsyan himself has been a leader of the ruling Republican Party of Armenia since 2007 and now intends to become a prime minister of the country.
"Mr. President, as I have already noted, I am ready to fully dedicate myself to the duties prescribed by the Constitution with all my heart, soul and experience and invest my knowledge in this very important cause which has had the contribution of Armenia's first, second and third Presidents", President-elect Armen Sarkissian said.
Answering criticism of the switch to a parliamentary system from the opposition, outgoing president Sargsyan denies this is created to keep him in power, Reuters reports.
Clashes over control of Nagorno-Karabakh, which lies inside Azerbaijan but is controlled by ethnic Armenians, have intensified in the past three years and there was a flare-up in violence there in April 2016. Many Armenians accuse the government of corruption and mishandling the economy. "Once again, I cordially congratulate you", President Serzh Sargsyan said. Ten years ago yesterday, after he won a popular election widely thought to have been manipulated, 10 people died when supporters of the losing candidate clashed with police in Yerevan.
Born in Yerevan on June 23, 1951, Dr. Sarkissian graduated from the Yerevan State University's Department of Theoretical Physics and Mathematics. In addition to his diplomatic mission to the United Kingdom, he went on to become Senior Ambassador of the Republic of Armenia to Europe (Deputy Foreign Minister) and concurrently represented Armenia as Ambassador to the European Union, Belgium, the Netherlands, Luxembourg, and The Vatican.