Lawmakers backed the cabinet led by Prime Minister Mirko Cvetkovic in a 127-27 vote with the government needing at least 126 votes from the 250-seat parliament.
Serbia's coalition government fell apart in March over a dispute on suspending EU ties following Kosovo's declaration of independence and U.S. and EU support for the Serbian province.
The new prime minister said his government would pursue EU entry, strengthen strategic gas links with Russia and continue discussions over Kosovo status.
Cvetkovic, 58, the country's former finance minister, has also pledged to develop the country's economy, with a target of 7% GDP growth and 4.5% inflation.
Last week, the country's parliament adopted amendments to the government's make-up, introducing two new ministries - the ministry for human rights and national minorities and the ministry for national investment plan.
The new government will have its first deputy prime minister, three deputy prime ministers and 25 ministers, including one without portfolio.
Socialist leader Ivica Dacic was appointed first deputy prime minister and interior minister, with Bozidar Djelic, Mladjan Dinkic and Jovan Krkobabic being appointed deputy prime ministers.
Foreign Minister Vuk Jeremic and Defense Minister Dragan Sutanovac have retained their posts.
The government was sworn in within an hour of the vote.