I am standing in the middle of thousands of exultant Egyptians in Tahrir Square.
There has been no official announcement yet of what Mubarak pans to do, but the people here all think that he now has no option but to stand down.
"We have won," said Alia Zayda, a 22-year-old law graduate. "I am so proud to be an Egyptian tonight".
In the square the hard-core protesters who have been sleeping here for 2 weeks are being joined by people from all walks of life from all over Cairo.
I have met Dr. Hani Yusuf, a surgeon who brought his wife and two young daughters. "This means a better life for them," he said.
I have talked to a 60-year-old engineer who says he has never been so happy in all his life, and 25-year-old students who have known nothing but Mubarak's rule all their life - all part of the same street party.
Some people are standing in circles holding candles, as if in prayer meetings. Others just walk through the crowd, smiling, still unable to fully believe they have toppled one of the longest-ruling dictators in the world.
Terry McCarthy is a foreign correspondent for CBS News. You can read more of his posts here