A deal has been reached between the Liberal and National parties, ending an eight-day split.
Liberal party leader Sussan Ley announced the restored Coalition alongside Nationals leader David Littleproud.
"We will 100 per cent take this forward together. We will be stronger together, better together, and we can't wait to do this on behalf of the Australian people that we wake up every morning to fight for."
Mr Littleproud says the breakthrough deal after a week of negotiations will ensure Australia's democracy remains strong.
"The focus now is on Anthony Albanese and the Labor government, and holding them to account, because that's important for our democracy. That's important for Australians, that they know we've laid the foundation stones of a Coalition that can move forward and work together to ensure that we hold them to account, but also have an alternative government in three years."
Hours after the parties renewed their partnership, Ms Ley also revealed the new shadow cabinet.
After losing an election, the opposition appoints responsibility for issues amongst its MPs and Senators in what's known as a shadow cabinet, or shadow ministry - with each representative who holds a portfolio known as a shadow minister.
The frontbench will include Ted O'Brien as Opposition Treasury spokesman, James Paterson in the finance portfolio, Andrew Hastie shadowing home affairs and Julian Leeser as shadow attorney-general.
Michaelia Cash has been elevated to foreign ministry issues, Angus Taylor is now in defence, and Dan Tehan in energy and emissions reduction, while Jane Hume, Sarah Henderson and Jacinta Nampijinpa Price have been demoted to the outer ministry.
Ms Ley rejects claims the demotions are punishment for members who supported Angus Taylor during the Liberal leadership spill, stressing the importance of every position announced.
"I know that we have harnessed the talent that we need in this shadow ministry going forward, but that there is a role for every single person. Opposition is not about hierarchies, it's not about structure, it's about getting every player on the field fighting the fight."
The Nationals have also announced their six cabinet roles, with Ross Cadell promoted to Emergency Management, Susan McDonald in resources and Darren Chester in veteran affairs.
Former Nationals leaders Barnaby Joyce and Michael McCormack have both been overlooked.
While Mr McCormack says he respects Mr Littleproud's decisions, he says the Coalition split and subsequent negotiations were managed poorly.
"We could have done it a lot more smoother, the transition could have been not made in the haste that it was made in, and I just thought it was just done in too much haste and decisions taken and made in haste are not always the best or wisest decisions."
Concessions were made to reach the deal that brought the parties back together, with the Liberals agreeing to lift the moratorium on nuclear power, to support mobile phone coverage for the bush, a Regional Future Fund, and supermarket divestiture powers.
Regarding the moratorium on nuclear power, Ms Ley says no further policy details have been decided.
"It's important to recognise that in agreeing as we have in respect to nuclear energy, that the removal of the moratorium is an important first step. It's also important to note that there will be development of the detail of any further policy with respect to nuclear after that point. So that's where we're starting."
The Coalition's Net Zero policy has also been a point of contention between the two parties.
While Mr Littleproud has reaffirmed a commitment to net zero by 2050 remains National party policy, he says all policies are up for debate.
"Well in our culture of our partyroom as it was in the last term and terms before that, members of our party room are free to come forward and bring new policies or challenge existing policies."
Meanwhile, Prime Minister Anthony Albanese has taken the opportunity to distance his party from the dramatic split and reconciliation.
He says it's a reminder of the internal politics that will continue to be a distraction for the Coalition, while Labor is focusing its attention elsewhere.
"Whilst other political parties can fight each other and within their political parties, what we're focused on very much is the needs of the Australian people."
