Meanwhile, NCP's Ajit Pawar took oath as Deputy CM.
BJP leader Devendra Fadnavis took oath as Maharashtra Chief Minister for the second time on Saturday morning. The oath was administered by Governor Bhagat Singh Koshyari at Raj Bhawan, news agency ANI reported.
Nationalist Congress Party leader Ajit Pawar was sworn in as deputy chief minister of the state.
#WATCH Mumbai: Devendra Fadnavis takes oath as Maharashtra Chief Minister again, oath administered by Governor Bhagat Singh Koshyari at Raj Bhawan. pic.twitter.com/kjWAlyMTci
Prime Minister Narendra Modi congratulated Devendra Fadnavis and Ajit Pawar for taking oath as the CM and deputy CM respectively in a tweet immediately after the duo took oath.
''I am confident they will work diligently for the bright future of Maharashtra,'' added Modi.
''From result day to this day no party was able to form Govt, Maharashtra was facing many problems including farmer issues, so we decided to form a stable government,'' Ajit Pawar after taking oath as Deputy CM reportedly told ANI.
The development comes at a time when deliberations between Congress, NCP and Shiv Sena seemingly reached the final stage on Friday.
Shiv Sena chief Uddhav Thackeray had reportedly given his consent to become Maharashtra chief minister on Friday.
Congratulations to @Dev_Fadnavis Ji and @AjitPawarSpeaks Ji on taking oath as the CM and Deputy CM of Maharashtra respectively. I am confident they will work diligently for the bright future of Maharashtra.
Earlier, NCP supremo Sharad Pawar had claimed that there was a consensus on Sena chief Uddhav Thackeray as chief minister of the alliance government.
The BJP, which emerged as the single largest party, could not stake claim to form a government as its ally Shiv Sena remained firm on rotating the Chief Minister's post and equal sharing of Cabinet berths.
Shiv Sena parted ways with BJP to explore ways to form a government. It, however, failed to prove the support of the required number of MLAs in the time given by state Governor Bhagat Singh Koshyari.
The Governor had then invited NCP, the third-largest party, to prove its ability to form the government failing which President's Rule was imposed in the state.
The BJP won 105 seats in the 288-member assembly followed by Shiv Sena 56, NCP 54 and Congress 44.