Tasmania's Opposition Leader Will Hodgman says he expects to be given the opportunity to govern.

Addressing a packed tally room in Hobart, Mr Hodgman said his party looked like capturing the highest percentage of the primary vote.

"[It is] the Liberal Party that has won the most votes right across Tasmania," he said.

"Tasmanians have sent a very clear message tonight and it is one for change.

"It is one for a brighter, positive future. I will ensure that we will work constructively, positively and with their interests at our heart."

With more than 80 per cent of the vote counted, the results point to a hung Parliament as predicted.

Labor has lost four seats and the swing against the Government near the end of the first round of counting is about 12 per cent.

The likely result is Labor 10, the Liberals 10 and the Greens 5 in the 25 seat House of Assembly.

Mr Hodgman topped the poll in Franklin and has the highest vote in the state.

Greens leader Nick McKim told the tally room a hung Parliament is an opportunity for a new era of co-operative politics in Tasmania.

He described it as a historic result for his party and the Greens' best ever election achievement in any Australian state or territory.

"What an opportunity this is for Tasmania, what an opportunity for a new era of constructive, co-operative politics, for politicians to work together not to advance their own interests or their party's, but to advance Tasmania," he said.

"The Tasmanian people have moved past that tired old view."

Premier David Bartlett was the last of the leaders to speak.

He congratulated Mr Hodgman and Mr McKim and praised their campaigns.

He says he accepts responsibility for Labor's performance.

"The electorate has sent Labor a message," he said.

The undecided seats are in Denison in the south and Braddon, in the north-west.

In Denison, it is a contest between the Greens' Helen Burnett, Liberal Richard Lowrie and the Independent outsider Andrew Wilkie.

With 84 per cent of the primary vote counted, the Premier David Bartlett and Scott Bacon, Liberal Matthew Groom and the Greens' Cassy O'Connor have all been elected.

The last seat in Braddon will be won by either the incumbent Liberal MP Brett Whiteley or the Greens' Paul O'Halloran.

Labor's Bryan Green and Brenton Best have been returned, along with the Liberal deputy leader Jeremy Rockliff.