There had been concerns that a rise in populist sentiments across Europe could lead to the collapse of the EU establishment.
But many are breathing a sigh of relief.
The election of independent candidate Emmanuel Macron is being seen by some as a boost for the future of the European Union.
Mr Macron defeated nationalist candidate Marine Le Pen, taking around two-thirds of the votes.
Ms Le Pen's campaign was largely driven by her populist sentiments, similar to those that fuelled the rise of Donald Trump and Britain's decision to leave the European Union.
But Dr Maryse Helbert, a researcher in French national and international politics at the University of Melbourne, says Ms Le Pen's resounding defeat signals a rejection of those sentiments.
"It shows that while yes, there was a wave of populism in the world, starting with Donald Trump and Brexit, it hasn't translated in other European countries, she told SBS World News.
"This is is a good thing, it shows they've been able to resist it."
Defeated Le Pen claims 'historic gains', wishes Macron 'success'
Throughout her campaign, Ms Le Pen was a strong critic of the European Union, proposing to leave the euro zone and hold a referendum on membership.
But Mr Macron has vowed to remain committed to the EU.
French politics expert Professor Peter McPhee, from the University of Melbourne, says this reaffirms support for the idea of a strong Europe.
"It may well be a turning point in terms of reassertion of the political dominance of parties that are in favour of Europe rather than critical of it," he said.
"It will be interesting to see how it rubs off in the Italian elections that are coming up next year."
Those elections could see the return of another young pro-European centrist in Matteo Renzi, who was forced to resign as Italian prime minister in December.
He now looks on course for a comeback after regaining the leadership of his Democratic Party in a primary vote.
SBS Europe Correspondent Brett Mason reports from Paris
While Italy is a significant member, Ms Helbert says it's France and Germany that are the pillars of the European Union.
She says Mr Macron's win is a boost for German Chancellor Angela Merkel, who is standing firm on a strong commitment to the European bloc.
Ms Merkel is on track to win re-election in September, and Ms Helbert says Emmanuel Macron's victory is encouraging for her supporters.
"I think it's going to give them some kind of impetus for their own election, saying well, the European Union is still on, and still alive at least for another five years. And we are all together on that, because there is no dividing country," she said.
"Because if France had decided to vote for Le Pen it would have decided to leave the European Union."
The rise of populist leaders has swept through Europe in recent years but Professor McPhee says there has been a failure on their part to seize the momentum and take office.
Geert Wilders, who heads the Netherland's Party for Freedom, and Austria's Norbert Hofer, from the Freedom Party, were both defeated in their country's presidential elections.
Professor McPhee says this indicates their support is perhaps not as strong as projected in the media, but it shouldn't be underestimated.
"In the Netherlands and Austria, they haven't been successful, but certainly it's been a worrying sort of cancer eating away at Europe, that you have populist right wing parties that have been so hostile to the European of providing safe sanctuary for refugees, and also, fundamentally to the whole idea of a single market, which I think has Europe has been a peaceful place for the last 70 years," he said.
