ABC election analyst Antony Green predicts Labor will win 48 seats, that's enough to form majority government.
And the LNP will secure 39 seats.
"I think they have a certain 46, and they only need one more vote," he told the ABC.
"At the moment we are giving them another two on prediction.”
On Saturday night, Queensland Premier Annastacia Palaszczuk was confident of retaining power, but said a final result would take days to be realised.
"We are close to the peak but we are not quite there and we will not get there tonight."