With the tally still being counted, the panel said today that the National League for Democracy party, led by Ms Suu Kyi, has won 15 more seats, pushing it over the threshold it needed of 329 seats for a majority in the 664-member, two-house parliament.
A party with a combined parliamentary majority is able to select the next president, who can then name a cabinet and form a new government.
The tally from Sunday’s vote is still being counted and final results are not expected for several days.
But the incoming results confirmed a landslide win for the opposition and a resounding rejection of military rule in Myanmar.
The country has been under military control for half a century.
Earlier US president Barack Obama congratulated Ms Suu Kyi for the success of her opposition party in Myanmar’s historic elections.
Mr Obama also called President Thein Sein to congratulate the country on its success in conducting the election and the importance of respecting the outcome.
The former general has led Myanmar’s military-backed government for five years.