After the 10 rounds of counting, Mehbooba secured 16,897 votes against her nearest rival and Congress candidate Hilal Ahmad Shah's 5,529 votes.
National Conference candidate Iftikhar Misger was a distant third, polling 2,702 votes only, District Election officials said.
A formal announcement of Mehbooba's victory will be announced only after all the votes are counted, the officials said.
This will be Mehbooba's fourth term in the Assembly.
57-year-old Mehbooba is among eight candidates in the bypoll for Anantnag Assembly seat which was necessitated due to death of incumbent MLA and then chief ministre Mufti Mohammad Sayeed on January 7 this year.
Interestingly, 356 votes have marked NOTA option in the bypoll.
This will be Mehbooba's fourth term as member of Jammu and Kashmir Legislative Assembly.
She was first elected to the Assembly in 1996 on a Congress ticket from Bijbehara constituency.
She won in 2002 from Pahalgam and again in 2008 from Wachi seat in Shopian district.
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