The 73-year-old economist took over from Giuseppe Conte at a ceremony in the Quirinal presidential palace in the presence of President Sergio Mattarella.
The inauguration comes a day after Mattarella formally offered Draghi to take the helm. The career banker presented his 23-man cabinet lineup that balanced technocrats with politicians from parties ranging from left to right.
A majority of Conte's ministers retained their positions, including Foreign Minister Luigi Di Maio, Interior Minister Luciana Lamorgese and Health Minister Roberto Speranza.
The cabinet makeup reflects that of the parliament. The 5 Star Movement, the biggest party, received five ministerial seats, the leftist Democratic Party, the right-wing League and the liberal Forza Italia each got three, while two smaller parties got one apiece.
