The two-day exercise kicked off this morning amid tight security and is the final phase of a tumultuous transition overseen by the increasingly unpopular ruling military council.
The historic presidential election is being contested by candidates with both Islamist and secularist leanings who have promised radically different futures for the country.
A total of 13 contenders are in the fray but the race boils down to five major names.
Two figures of the former regime --former foreign minister Amr Moussa and former prime minister Ahmad Shafiq, are up against two Islamists -- Mohamad Morsi from the Muslim Brotherhood and Muslim Brotherhood-defect Abd-al-Munim Abul Futtuh, and leftist front-runner Hamadin Sabahi.
If no candidate gets an absolute majority, the top two vote-getters would compete in a run-off on June 16 and 17. The winner of the run-off would become Egypt's first post-Mubarak era president and will take office before July 1.
The elections are being conducted under full judicial supervision and international monitors have arrived to observe the transparency of the process.
People have been queuing up in front of polling stations since 6.00 am, two hours before the poll was expected to open.
"I am a sick man but came early to vote because I don't want my country to be stolen anymore. I don't want the revolution to be stolen anymore. I trust in these elections because I believe in the people of my country," a voter standing outside the polling station said. (MORE)