The Kurdistan Democratic Party, led by the influential Barzani family, took 39 places in the 100-seat parliament in the October 20 vote, according to the commission.
In the outgoing parliament, the KDP held 45 seats and formed a majority through alliances with deputies from Armenian, Christian and Turkmen minority quotas.
The Patriotic Union of Kurdistan (PUK), the region's other dominant party, came in second with 23 seats, while the opposition party New Generation nearly doubled its seats to 15.
Originally set for two years ago, the vote was delayed four times amid disputes between the KDP and PUK.
Iraqi Kurdistan, home to six million people, touts itself as a stable Middle East oasis, attracting foreign investors with its US and European ties.
Yet, critics argue it faces similar issues to Iraq as a whole: corruption, political repression and cronyism.
Voters had expressed concerns over economic hardship and discontent with the political elite.
The remaining seats went to opposition Islamist parties, including the Kurdistan Islamic Union which won seven seats, as well as new parties, the electoral commission said.
Seventy-two percent of the 2.9 million electorate turned out to vote, compared with 59 percent in the 2018 election.
The new parliament must elect a president and prime minister, currently KDP figures Nechirvan Barzani and his cousin Masrour Barzani, respectively.
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