Carlo Ancelotti has targeted Champions League qualification and winning trophies with Everton after taking over as manager at Goodison Park.
The Italian has signed a four-and-a-half-year deal with the Toffees to succeed Marco Silva, who was sacked on 6 December.
"The goal is there to reach the Champions League or Europa League," said 60-year-old Ancelotti.
"Winning honours has to be the dream. I am here to try to do this."
He added: "It takes time. It's not going to happen straight away but, working together, we have to try to do it as soon as possible."
- 'A massive coup' - but is Ancelotti right for the Toffees?
- 'Ancelotti and Arteta face daunting tasks at Everton and Arsenal'
Ancelotti has won the Champions League three times as a coach - twice with AC Milan and once with Real Madrid.
He won the won the Premier League and FA Cup Double at Chelsea in 2010 and has also managed Bayern Munich and Paris St-Germain.
Ancelotti was sacked by Napoli earlier this month, despite guiding them into the knockout stages of this season's Champions League.
Everton announced the 60-year-old's appointment before Saturday's goalless home draw with Arsenal, which Ancelotti watched from the stands.
His first match in charge will be the home game against Burnley on 26 December.
"I'm really excited," said Ancelotti. "This is a club with a lot of ambition, a great history.
"The squad is good. Of course, I am here to work to improve the team and put better quality into the squad. I'll try to do my best.
"Our goal is to be competitive in the Premier League, to be towards the top of the table, to be competitive in Europe."