68 year old Rouhani, a moderate cleric who negotiated a landmark nuclear deal with world powers in 2015, is standing against three other candidates.
His main challenger is seen as 56 year old Ebrahim Raisi, a hardline cleric and former prosecutor who is close to Supreme Leader, Ayatollah Ali.
If no-one wins more than 50% of votes cast, a run-off will be held next week.
Every incumbent president has been re-elected in Iran since 1985, when Ayatollah himself won a second term.
More than 54 million people are
eligible to vote in today's election, which will take place in 63,500 polling
stations. Early election results are expected on Saturday.
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