The most recent results give him an unassailable lead over former football superstar George Weah in the country's tightest poll since the civil war ended.
Critics have dubbed him "Sleepy Joe" due to reports of him falling asleep at official events, but Mr Boakai has promised to restore hope in Liberia and keep the country from "falling off the cliff."
He has experience running a country, having served as vice president for 12 years under Ellen Johnson Sirleaf, the first elected female African head of state.
When he is sworn in, he will take office in January 2024.
Mr Boakai famously described himself as a "race car parked in a garage," a phrase that became popular during the 2017 elections, in which he was defeated by Mr Weah.
He stated that description was related to his desire to do more as vice-president.
His website lists 58 accomplishments, ranging from advocating for community colleges to resolving various disputes in Liberia.
The most significant achievement of his presidency was an entirely peaceful tenure after nearly 15 years of war.
Look for a 'better life'.
Joseph Boakai was born in November 1944 into what many have described as "humble beginnings," and grew up in the remote village of Worsonga in Liberia's northernmost county, Lofa.
His parents were illiterate and could not read or write.
Mr. Boakai attended a school in Sierra Leone before graduating from the College of West Africa in Liberia's capital, Monrovia.
He then went on to earn a bachelor's degree in business administration from the University of Liberia.
Mr Boakai stated on radio that as a young man, he walked from Wonsonga to the capital in search of "a better life."
Mr. Boakai and Kartumu, his wife, have four children. He is a Baptist who serves as a deacon at Effort Baptist Church.
Mr. Boakai served as Liberia's agriculture minister under President Samuel Doe, who was assassinated in 1990.
One of his earlier projects was in his hometown, where he oversaw and personally funded the construction of a new seven-mile (11.2-kilometer) road.
He has collaborated with others to construct a school for 150 students as well as a clinic for a community of ten villages.
Mr. Boakai was also in charge of the program to decentralize agriculture by establishing regional hubs, which was a flagship project in Liberia, where many people are subsistence farmers.
Mr Boakai was determined to run again after losing the 2017 election.
Because neither Mr Boakai nor Mr Weah received more than 50% of the vote in the first round of this election, they faced off in a second round.
Mr. Boakai's campaign centered on agriculture, while he accused Mr. Weah's administration of "mismanagement." Mr. Weah denied Mr. Boakai's claims.
Before the election, Mr Boakai told the BBC that he wanted to focus on fighting corruption, increasing agricultural production, lowering food prices, and improving the country's roads.
He went on to say: "Our people need to have a country that they can call their own, a country that they can respect and corruption has been an impediment."
He promised that a "sword drawn against corruption" would be drawn.
"In the first 100 days, we will ensure that no vehicle in the country becomes stuck in the mud." This will have an impact on food prices and people's health."
The president-elect also promised an investigation into the causes of high food prices, as well as assistance to farmers.
"This country has enormous agricultural potential, but nothing is being done to capitalize on it." We are completely reliant on everything that comes from outside. This is about to change. I'm confident we can pull it off."
Mr. Boakai describes his path to the presidency as difficult, but he is determined to assist "millions of Liberians who have been left to face abject poverty, disease, ignorance, and insecurity."