Weah, who emerged the world's best footballer in 1995, is ahead of three other presidential contestants, one of them the sitting vice-president Joseph Boakai, others are longtime opposition figure Charles Brumskine and former Coca-Cola executive, Alexander Cummings.
The first official results had been expected later today.
The former footballer is presently a member of the Liberian senate, having been elected to represent the Montserrado County which includes the country's capital, Monrovia, on the platform of the Coalition for Democratic Change (CDC) in December 2014. Ellen Johnson Sirleaf, Africa's first female president, will step aside after two six-year terms in office.
The former AC Milan striker ran for presidency for the third time in his country Liberia on Wednesday, October 11, but no official result has been announced yet by the Liberian electoral body.
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"As a longstanding friend, the United States applauds the people of Liberia for exercising their democratic right to vote in the historic presidential and legislative elections", said a statement from US State Department spokesperson Heather Nauert.
He then moved to England, playing for Chelsea and City towards the end of his career.
Presenting their preliminary finding on the election process, the head of the ECOWAS observer mission and former Ghanaian president, John Mahama lauded the efforts of the Liberian security services in quelling the pockets of violence which arose during voting on Tuesday.