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It will meet for the first time tomorrow.
The Cabinet includes six deputy prime ministers and two ministers attached to the prime minister's office.
Prime Minister Samak Sundaravej will concurrently take the defence portfolio.
Mr Samak will have to strike a potentially uneasy balance with the top brass of the armed forces, elements of which got together to throw out then-prime minister Thaksin in a military coup in September 2006.
Mr Samak has sworn to restore Thaksin's reputation - but party leaders have said the People Power Party (PPP) will not unduly rock the boat by rushing to rehabilitate the former premier and 110 of his erstwhile party colleagues who have been banned from politics.
Former president of the Mass Communications Organisation of Thailand Mingkwan Saengsuwan is the new commerce minister - a move acclaimed by the business community.
PPP secretary-general Surapong Suebwonglee, a medical doctor, is taking the reins at the Finance Ministry. Given his non-financial background, some doubts have been expressed over his qualifications.
The job is a hot seat given the challenges of restoring investor and consumer confidence in Thailand, weathering volatile stock markets, currency exchange rates and energy prices, and tackling inflation.
Former police captain and intelligence chief Chalerm Yoobamrung will be minister of the interior - a crucial post in terms of controlling the police and intelligence agencies.
Thaksin's legal adviser Noppadol Pattama was set to be foreign minister. Mr Noppadol once served as secretary to current Asean secretary-general Surin Pitsuwan, when Mr Surin was Thailand's foreign minister from 1997-2001.
He comes to the portfolio at a time when ties with the United States - cut back because of the 2006 military takeover in Bangkok - are being restored.
Mr Sompong Amornwiwat, PPP deputy leader and one-time labour and social welfare minister in the former Thai Rak Thai administration, and Thaksin's brother-in-law Somchai Wongsawat, are the justice and education ministers respectively.
Mr Jakrapob Penkair, who stuck his neck out in anti-military street protests late last year and was one of a handful arrested under the junta's rule, was to be sworn in as minister in the prime minister's office, where he would also serve as the premier's spokesman.
