Governor H R Bhardwaj administered the oath of office to Justice Waghela.
Justice Waghela succeeds Justice Vikramjit Sen, who was appointed as a Supreme Court judge after an apex court collegium cleared his name for elevation on December 2012.
The Chief Justice post was lying vacant for nearly two months during which senior judge K Sreedhar Rao was the acting Chief Justice.
Born in August 1954 in Rajkot, Justice Waghela began his legal practice in his hometown from November 1975 and rose to become the senior-most judge at Gujarat High Court
Justice Waghela had directed CBI probe into the murder of RTI activist Amit Jetwa, who had exposed illegal mining by various politicians in Gujarat.
Justice Waghela was also part of a five-judge bench that recently upheld the constitutional validity of the Central government's Minority Scholarship scheme.
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