Rio to stage 2016 Olympic Games
Brazil will become the first South American country to host the Olympics, after the city of Rio de Janeiro was chosen to stage the 2016 Games.
Rio won a majority of the 95 votes at the meeting in Copenhagen, eliminating Madrid in the final round. Tokyo and Chicago had already been knocked out.
"The world has recognised that the time has come for Brazil," said Brazilian President Luiz Inacio Lula da Silva.
Chicago's early exit was a surprise, with bookmakers making them favourites.
Rio's presentation to the International Olympic Committee delivered a passionate appeal for South America to be awarded the Games.
President Lula told the delegates: "Rio is ready. Give us this chance and you will not regret it."
"Rio will deliver an unforgettable Games. You will see for yourselves the passion, the energy and the creativity of the Brazilian people."
President Lula said 2016 was an opportunity for the IOC to show that the Games belonged to people of all continents.
"I truly believe this is Brazil's time. For the others, it would be just another Games," he added.
"It will not be just Brazil's Games but South America's. It will serve to inspire the 180m young people on the continent. It is time to redress the balance."
After IOC President Jacques Rogge announced the winner on Friday, Brazilian football legend Pele, who was part of Rio's bid team, was reduced to tears.
"It's unbelievable, overwhelming and spectacular," the governor of Rio de Janeiro, Sergio Cabral, told the AFP news agency.
Crowds on Copacabana beach in Rio were jubilant after the result
The BBC's Gary Duffy in Rio described "absolute, unrestrained joy" on the city's famous Copacabana beach, with silver glitter flying through the air and thousands of people singing.
The golden sand disappeared under a sea of green and yellow, the colours of Brazil, our correspondent said.
President Lula said: "All those people who thought we had no ability to govern this country will now learn that we can host the Olympics."
"There is a lot of work ahead of us and we will start working early. The Brazilian people are good and generous and the country deserves it."
Rogge said Rio had presented the IOC "with a very strong technical bid, built upon a vision of the Games being a celebration of the athletes and sport, as well as providing the opportunity for the city, region and country to deliver their broader long-term aspirations for the future".
"This call to 'live your passion' clearly struck a chord with my fellow members, and we now look forward to seeing Rio de Janeiro staging the first Olympic Games on the continent of South America," he said.
Madrid's surprising success in reaching the final round came after former IOC president Juan Antonio Samaranch made an emotional appeal.
"I know that I am very near the end of my time. I am, as you know 89 years old. May I ask you to consider granting my country the honour and also the duty to organise the games in 2016," he said.
However, a win for Madrid would have made it three European-based Olympics in a row, with London 2012 and Sochi 2014 preceding it.
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