Under an Arab League-sponsored agreement, the new Cabinet will include 16 ministers from the parliamentary majority, 11 from the opposition and three more ministers will be appointed by the president.
The main aim of the new Cabinet will be to prepare for parliamentary elections in Lebanon.
Lebanon's parliament elected army commander General Michel Suleiman as the country's president last Sunday. His candidacy was backed 118 votes out of 127.
All of Lebanon's warring political leaders earlier agreed to vote for Suleiman under a deal brokered in Qatar on May 21 to end a 19-month political crisis, which led to the worst violence the country has seen since 1990.
Lebanon's political stalemate began in late 2006 when pro-Syrian ministers quit the cabinet of Prime Minister Fuad Siniora during a power struggle. The U.S.-backed government and the Hezbollah-led opposition spent over a year deadlocked and unable to elect a president.