Control of the Senate hinges on two Georgia run-off elections on Jan. 5. Democrats would have to win both in order to take control of the Senate for the first time since 2014.
In two private caucus meetings Tuesday on Capitol Hill, senators reaffirmed they want to keep their current leadership in place.
McConnell was reelected unanimously and audible applause was heard from outside the room where leadership elections took place, according to pool reports.
McConnell, 78, easily won reelection on Tuesday over a well-funded veteran Amy McGrath. He also paved the way for limited losses for his colleagues by securing a third conservative Supreme Court justice in Amy Coney Barrett just days before the election that solidified the GOP base.
"We're ready to get going," McConnell said after the meeting where he and his leadership team won another two-year term, "even though there's some suspense about exactly whether we'll be in the majority or not, which will be answered in Georgia on January 5th."
Schumer, 69, was also reelected by acclamation during the Democrats' caucus meeting. Democrats went on offense in 12 GOP states this year, but came up short of the outright majority by flipping just Arizona and Colorado.
But Democrats still have a pathway to power on Jan. 5 if Democrats Jon Ossoff and Raphael Warnock beat sitting Sens. David Perdue, R-Ga., and Kelly Loeffler, R-Ga., in January.
Democrats' entire leadership team was reelected, along with additions of Sens. Cory Booker, D-N.J., and Catherine Cortez Masto, D-N.M.
“I am humbled to be chosen by my colleagues to continue leading Senate Democrats as we work with the Biden-Harris administration to address the unprecedented challenges facing our country and deliver much-needed help to working families,” Schumer, D-N.Y., said in a statement after the vote.
"It is time for us to turn the page on one of the most divisive and chaotic chapters in our history, and I am looking forward to leveraging the expertise our diverse caucus, working in a bipartisan fashion – but never compromising on our values – to improve the lives of American families," Schumer added.
Democrats have made the case the Georgia elections are vital to the success of the incoming Joe Biden administration so he can have a Democratic House and Senate to work with him. A GOP-led Senate would amount to obstructionism, they argue.
Meanwhile, Republicans say winning Georgia is necessary to prevent Democrats from running amok with ideas like packing the Supreme Court.
Below is the slate of Democrats and Republicans elected Tuesday.
Democratic Senate Leadership
Senate Democratic Leader and Chair of the Conference: Sen. Chuck Schumer, D-N.Y.
Democratic Whip: Sen. Dick Durbin, D-Ill.
Assistant Democratic Leader: Sen. Patty Murray, D-Wash.
Chair of the Democratic Policy and Communications Committee: Sen. Debbie Stabenow, D-Mich.
Vice Chair of the Conference: Sen. Elizabeth Warren, D-Mass.
Vice Chair of the Conference: Sen. Mark Warner, D-Va.
Chair of Steering Committee: Sen. Amy Klobuchar, D-Minn.
Chair of Outreach: Sen. Bernie Sanders, I-Vt.
Vice Chair of the Democratic Policy and Communications Committee: Sen. Joe Manchin, D-W.Va.
Senate Democratic Conference Secretary: Sen. Tammy Baldwin, D-Wis.
Vice Chair of the Democratic Policy and Communications Committee: Sen. Cory Booker, D-N.J.
Vice Chair of Outreach: Sen. Catherine Cortez Masto, D-N.M.
Senate Republican Leader: Sen. Mitch McConnell, R-Ky.
Majority Whip: Sen. John Thune, R-S.D.
Republican Conference Chairman: Sen. John Barrasso, R-Wy.
Republican Policy Committee Chairman: Sen. Roy Blunt, R-Mo.
Vice Chair of the Senate Republican Conference: Sen. Joni Ernst, R-Iowa
Republican Senatorial Committee Chairman: Sen. Rick Scott, R-Fla.