His Vice President, Dr Mahammudu Bawumia was also sworn into office the same day.
Several dignitaries including former President John Agyekum Kufuor attended the event.
World Leaders including President of Cote D’Ivoire, Alhassane Ouattara, and several others were in attendance.
The President congratulated Mr Bagbin for being elected as a Speaker of Parliament.
“I am confident that both of us will be guided by the supreme interest of our people” Mr Akufo-Addo said in his inaugural address.
The two of them both served as Members of Parliament.