He now leads the south-east Asian nation his late parents helped liberate from dictatorship and which he promises to deliver from poverty and pervasive corruption.
Mr Aquino was sworn in at Manila's seaside Rizal Park as hundreds of thousands of people chanted his nickname.
Vice President Jejomar Binay took his oath before Mr Aquino was sworn in before a Supreme Court justice.
Outgoing President Gloria Macapagal Arroyo accompanied Mr Aquino to the venue then left to separately take her oath as an MP in her northern Pampanga province.
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