Polling stations in all districts opened at 7am on Sunday for the run-off vote betwen incumbent President Nicos Anastasiades and Akel backed independent Stavros Malas.
The two men faced each other in 2013 in the run-off when Anastasiades was elected for a five year term.
During last Sunday’s first electoral round, Anastasiades, who is backed by the ruling Democratic Rally (Disy) party, garnered 35.5% of the vote while Malas, secured 30.3%.
This is the first time neither of the two candidates has managed to gain the support of any of the other parliamentary parties.
The inauguration of the new president will be held before the House of Representatives during an extraordinary session, which will take place on 28 February.
Participation in the first round of elections on January 28, reached 71.9% and abstention was 28.1%.