Traditional Unionist Voice candidate William Ross suffered a humiliating defeat at the hands of sitting DUP MP Gregory Campbell in the East Londonderry constituency.
Mr Ross, who is president of the TUV, once held the seat for the Ulster Unionist Party for 27 years but his bid to regain the seat from Mr Campbell ended in abject failure.
Mr Ross finished in fifth place out of the six candidates, ahead of the Alliance Party candidate, former RUC superintendent Barney Fitzpatrick.
Mr Campbell finished comfortably ahead of second placed Cathal O'hOisin of Sinn Fein, who won the bragging rights in the constituency over his SDLP rival Thomas Conway.
The DUP MP immediately ruled himself out of any future party leadership contest.
"There is no vacancy. Peter Robinson is the leader, is a superb leader. He is not resigning and we simply have to look at the reality of why he lost his seat.
"There will be DUP leverage in the next Parliament and there will be an open door at 10 Downing Street and we will hear what either David Cameron or Gordon Brown has to say to us. Those who hitched on to the Conservative Party trailer have crashed", he said.