Labor Leader Peter Malinauskas has stormed to victory in the South Australian election with a big swing of 5.6 per cent, with voters turfing Liberal Premier Steven Marshall out after just one term of government.

The 41-year-old Mr Malinauskas focused firmly on the future as he addressed the Labor Party faithful at the Adelaide Oval at about 9.45pm on Saturday night, and will become the 47th Premier of the state.