By james art One contender has declared the race “closed” just hours before the 5pm voting deadline.
The winner of the race will be announced on Saturday, almost four months after the general election defeat that led to the resignation of Rishi Sunak.
Before the ballot closed, Mr Jenrick said that “We are chasing every vote. It’s close.”
Immigration, the economy and how the Conservatives can restore the trust of the electorate and win back the voters they lost at the election were discussed at length during the campaign.
The party lost seats to Labour, the Liberal Democrats and ReformUK in the July election.
Priti Patel, Mel Stride, Tom Tugendhat and James Cleverley spent the summer campaigning alongside Mr Jenrick and Ms Badenoch after putting their names forward in the nominations at the end of July.
Ms Patel and Mr Stride were the first two contenders to be eliminated in September, leaving four by the time the group convenes in Birmingham for its autumn conference at the end of the month.
While the candidates spent four days meeting with candidates as they competed to secure votes, both Ms Badenoch and Mr Jenrick found themselves embroiled in controversies during the conference.
Ms Badenoch eventually came out in support of maternity pay after the comments sparked controversy.
Meanwhile, Mr Jenrick has faced fire from other rivals in the leadership over claims he made about the UK’s special forces.
Shadow Home Secretary Mr Cleverley appeared to have taken the lead after the conference, topping MPs’ third ballot with 39 votes, while Mr Tugendhat was knocked out after securing just 20.
There was some surprise when Mr Cleverly did not make the final two names to be presented to members the next day, securing just 37 votes compared to Mr Jenrick’s 41 and Ms Badenoch’s 42.
A poll of Tory members by the ConservativeHome website last week showed Ms Badenoch leading by 55% to 31%.
The race was set in motion when Rishi Sunak announced he was stepping down as party leader after the July election defeat.
The Conservatives returned MPs with 121 seats in the July election, hundreds less than the 2019 results, after securing less than 25% of the vote nationally.
Speaking in Downing Street the morning after the election, he apologized to the country and his party.
“To the country, I would like to say first of all that I am sorry,” he said.
“I gave my best to this job but you have sent a clear signal that the UK government needs to change.
“And yours is the only judgment that matters.
“I heard your anger, your frustration, and I take responsibility for this loss.”