DMDK got the lion's share of 124 of the 234 Assembly constituencies while PWF constituents-- MDMK, CPI (M), CPI and VCK, will field their candidates from the remaining 110.
"You (Vijayakant) will be the king, kingmakers (PWF leaders) will make you the king," Vaiko told Vijayakant, adding, the alliance will also be known as "Captain Vijayakant Front."
The seat-sharing agreement signed by Vijayakant, Vaiko, G Ramakrishnan (CPI-M), R Mutharasan (CPI) and Thol Thirumavalavan (VCK) was released to media.
If elected, the front will have a coalition government, a rare proposition in Tamil Nadu politics, the leaders said.
The development, however, was ridiculed by BJP, which had actively wooed DMDK in its effort to sew up a 2014-like NDA coalition, while DMK did not seem to take it seriously.
Senior BJP leader and Union Minister Pon Radhakrishnan claimed that PWF-DMDK combination, "will not win a single seat."
"They are confident that they will not win a single seat and have therefore named brother Captain (Vijayakant) as CM candidate in anticipation of at least securing deposit," he said.
Radhakrishnan chided the Vaiko-led PWF for going back on its policy of not naming a CM candidate prior to elections.
Speaking to reporters, Radhakrishnan extended his greetings to the DMDK founder on being named the chief ministerial candidate, irrespective of "whether he becomes CM or not."
Vaiko continuing at the helm of affairs and Vijayakant being named as chief ministerial candidate reminded him of a popular Tamil comedy scene, he said.
"BJP will face the polls with enhanced strength and we will accept anyone coming to our(headed) alliance," he said adding the front will be instrumental in forming of the next government.
joining hands had brought about a 'clarity' to the state's political situation.
DMK leader M K Stalin also did not seem to take the new front seriously.
"We are doing our work," was his cryptic response to reporters' queries in this regard.
TMC leader and former Union Minister G K Vasan indicated that PWF-DMDK arrangement was nothing new as "it had been discussed widely" over the past few days.
Earlier, the breakthrough in alliance parleys came after Vijayakant, who recently declared that his party would go it alone in the polls, held talks with leaders of PWF, led by MDMK's Vaiko.
Likening Vijayakant to Yudhistra of Mahabharata Vaiko said, "Bheema, Arjuna, Nakul and Sahadeva" (reference to four PWF leaders) will not allow others to get near him and they would take on rivals first.
Vaiko, the coordinator of the PWF, said he would be the "Senapathi (Commander) of the PWF-DMDK forces" that would take on AIADMK and DMK.
He said,"this is the alliance expected by the people, this is a great front that would usher in change and be victorious."
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