Coventry's win also was a victory for outgoing IOC president Thomas Bach, who has long been seen as promoting her as his successor.
Kirsty Coventry has been elected president of the International Olympic Committee and becomes the first woman and first African to get arguably the biggest job in global sports.
The Zimbabwe sports minister and two-time Olympic swimming gold medallist bagged a stunning first-round win in the seven-candidate contest after voting by nearly 100 of her colleagues in the IOC membership race on Thursday.
She gets an eight-year mandate into 2033.
It was the most open and hard-to-call IOC presidential election in decades with no clear front-runner before the vote. Many predicted an absolute majority could take several rounds of votes to secure.
Coventry's win also was a victory for outgoing IOC president Thomas Bach, who has long been seen as promoting her as his successor. He did not use his right to vote.
"I will make all of you very, very proud and hopefully extremely confident in the decision you have taken," Coventry said in her acceptance speech. "Now we have got some work together."
Walking to the podium, she was congratulated and kissed on both cheeks by Juan Antonio Samaranch, who was her expected closest rival in the vote.
Also in the race were four presidents of sports governing bodies: Track and field's Sebastian Coe, skiing's Johan Eliasch, cycling's David Lappartient, and gymnastics' Morinari Watanabe.
Also contending was Prince Feisal al Hussein of Jordan.
Coventry will formally replace her mentor Bach on 23 June, officially Olympic Day, as the 10th IOC president in its 131-year history. Bach reached the maximum 12 years in office.
Key challenges for the 41-year-old Coventry will be steering the Olympic movement through political and sporting issues toward the 2028 Summer Games in Los Angeles, including engaging in diplomacy with US President Donald Trump.
Coventry's IOC will also need to find a host for the 2036 Summer Games which could go to India or a country in the Middle East.