Chief Secretary to the Treasury Danny Alexander lost his seat to the SNP as the nationalists won 56 of Scotland’s 59 seats.
Business Secretary Vince Cable’s Twickenham seat was won by the Conservatives, who also took the Kingston and Surbiton seat previously held by Energy and Climate Change Secretary Ed Davey.
Speaking at the result of his Sheffield Hallam count, where he won with majority of more than 2,000, Clegg, who served as deputy prime minister in the coalition government, said it had been ‘a cruel and punishing night for the Liberal Democrats’.
He added: ‘The election has profound implications for the country and for the Liberal Democrats.
‘I will be seeking to make further remarks about the implications of this election – both for the country and for the party that I lead and for my position in the Liberal Democrats – when I make remarks to my colleagues in the Liberal Democrats later this morning when I return to Westminster.’
Other high profile losses included veteran MP Simon Hughes, who served as a justice minister in the coalition, and Home Office minister Lynne Featherstone.
In Scotland, both former LibDem leader Charles Kennedy and employment minister Jo Swinson lost their seats to the SNP.
However, care minister Norman Lamb retained his seat in North Norfolk, as did former LibDem party president Tim Farron in Westmorland and Lonsdale. Both are likely leadership candidates after Clegg steps down.
