The charismatic 63-year-old, who also beat out Font in the 2021 election, will reclaim his position in July after resigning a few weeks ago as part of the electoral process.
Around 42 per cent of Barcelona club members voted - translating to 48,480 votes.
Laporta held 68.47 per cent of the vote after 36,117 votes had been counted, compared to Font's 29.52 per cent. With 12,363 votes remaining to count, Laporta's lead is unassailable.
"We're sad, we were really hopeful, and it's a pity - we congratulate Laporta," Font told reporters, admitting defeat.
Laporta previously led the club between 2003 and 2010, in arguably Barcelona's golden era, during which they won the treble with Pep Guardiola at the helm in 2009.
Several Barcelona first-team players and coach Hansi Flick headed to vote after the team's 5-2 victory over Sevilla earlier on, with Laporta joining them at the ballot boxes.
Former Barca midfielder Sergio Busquets, three-time women's Ballon d'Or winner and star of Barca Femeni Aitana Bonmati and former player and coach Xavi Hernandez were among other club members casting votes.
Voting booths were set up at Camp Nou, as well as in other Catalan cities, Girona, Tarragona and Lleida, and in Andorra.
Laporta was seen celebrating long before the votes were counted, as well as dancing with Barca players after their emphatic win at Camp Nou.
The lawyer, who was elected in 2021 after pledging to keep superstar Lionel Messi at the club, which he was unable to do, helped Barca stay afloat despite inheriting a financial crisis.
Laporta controversially sold off future television rights and parts of the club to generate funds to sign players, including Robert Lewandowski and Raphinha, in the summer of 2022.
Barca won LaLiga titles in 2023 and 2025, and with coach Hansi Flick at the helm, returned to the Champions League semi-finals last season for the first time since 2019.
Laporta was criticised in some quarters for joining forces with Real Madrid chief Florentino Perez to try to make the doomed European Super League project happen. Barcelona finally pulled out of it earlier this year.
During Laporta's first spell as president, he oversaw a joyous period for Barca, including the arrival of Brazil star Ronaldinho, the club's greatest ever player, Messi emerging and two Champions League triumphs in 2006 and 2009.