He had polled 35,573 votes (66%), according to UK elections results released today.
North East Hampshire is reportedly considered to be a safe Tory seat, which was comfortably won with a majority of over 18,000 votes in 2010.
Ranil, whose parents are from Sri Lanka, has served as a local Councillor since 2008 and is Deputy Leader of Basingstoke and Deane Borough Council.
He had been in the spotlight in the run up to the election when a rival British Parliamentary candidate from UK Independence Party (UKIP) was suspended after reportedly threatening to shoot Jayawardena.
Robert Blay, who was also running for election in North East Hampshire, had told undercover Daily Mirror reporters that he was prepared to “put a bullet between the eyes” of the Conservative Party lawmaker.