Pre-election surveys give Bachelet, who was president from 2006-2010, an overwhelming margin of support over Matthei, an economist and former labour minister.
Voter turnout, however, is a big unknown. While more than 13 million Chileans are eligible to vote, this year's race mark the first time that voting in a presidential election was voluntary.
In the first round on November 17, which resulted with Bachelet winning 47 per cent of the vote to 25 per cent for Matthei, more than half of all voters did not cast ballots.
"I am convinced today will be a very important day," she said, echoing remarks from her closing rally Thursday that she could be on the brink of making history again.
"I had the honour to be Chile's first woman president, and it will be a great honour once again to be the president of every Chilean man and woman," Bachelet told cheering supporters.
Bachelet could draw up to 66 per cent of the vote against 34 per cent for Matthei, according to a recent Universidad de Santiago-Ipsos poll.
"What I've seen is unity, affection, joy and much, much support, so what happened at the start, which was rough, will be forgotten," she said.
Moments earlier, four protesters at her polling station were arrested as they tried to attack and spit on a Matthei's fellow conservative politician, Pablo Longueira, whose withdrawal from the presidential race in July prompted Matthei's run.
Meanwhile, outgoing president, Sebastian Pinera, pleaded for Chileans to turn out, saying "Get up, go vote: Chile needs you."
But analysts predicted ever lower turnout than in the first round, in part because of the timing so close to the holidays and the long summer break from school and because of Bachelet's strong lead going into the vote.
Matthei, 60, and Bachelet, 62, are both the daughters of Air Force generals and knew each other as schoolgirls.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
