Under UEFA statutes, Ceferin, as the only candidate, was voted in by acclamation - a round of applause - from the delegates of the 55 member associations.
Nevertheless, the Slovenian has sought to champion the rights of clubs from smaller countries, and he must look for ways to restore competitive balance, something he recently said was his "greatest challenge" going forward.
FIFA President Gianni Infantino, meanwhile, said a task force set up to look at possible formats for the competitions may not complete its report by March as originally scheduled.
"When I see the unity of European football it makes me happy, when you see the financial numbers, you feel proud and confident that the future is bright", said Ceferin, revealing figures for the highest revenue in UEFA's history with an annual income of €5.7 billion ($6.4 billion).
UEFA and European Club Association have signed a renewed Memorandum of Understanding until 2024 in a move that kills off talk of a European Super League.
"The only thing great about you would be your past", Ceferin cautioned clubs, saying teams following through on breakaway threats in 2016 "would have lost their status as great clubs in the hearts of the people".
Ceferin excused Liverpool from attending as they were playing a Premier League match at West Ham on Monday, which ended 1-1 at London Stadium.
The Slovenian lawyer took over two-and-a-half years ago from disgraced predecessor Michel Platini.
- England retained the FIFA vice presidency reserved for the four British soccer federations.
Ceferin was president of the Football Association of Slovenia between 2011 and 2016, and had been the President of UEFA since September 14, 2016.
Juventus president Andrea Agnelli has helped stave off the Club World Cup plan and is key to protecting the Champions League as UEFA's prize asset.