Rudd sworn in as Australian prime minister

Kevin Rudd was sworn in as Australian prime minister on Thursday, a day after toppling the country's first female leader Julia Gillard and nearly three years after being ousted from the same job.

Rudd, along with his new deputy Anthony Albanese and new treasurer Chris Bowen, were officially sworn in by Governor General Quentin Bryce in the country's capital Canberra early Thursday morning.

During the ceremony, Bryce wished Rudd well in serving the people of Australia, to which he replied that he would do his "absolute best," according to reports.

Rudd still faces the possibility of a no-confidence motion in Parliament on Thursday.

However, Tony Abbott, leader of the main opposition Liberal and National Party coalition, has reportedly said his side is unlikely to opt for this route, saying, "We're not into parliamentary games."

The extraordinary events of Wednesday unfolded after months of trouble dogging Australia's ruling Labor party, with many calling for Gillard to step aside for the more popular Rudd ahead of the September general election.

Rumors of a petition also circulated around parliament Wednesday, with media outlets reporting that backers of Rudd were using a formal petition, which requires one-third of the caucus to sign on, to force an internal vote.

Since becoming leader Gillard had faced constant bad polling, with the opposition painting her an untrustworthy character with many policy failings.

Rudd, who lost his leadership to Gillard in June 2010 prior to the last general election, has consistently fared better in polling as preferred leader, fuelling talks of a comeback.

However, Rudd himself had previously denied such claims, repeatedly stating he would not challenge for the leadership after a failed attempt in February of 2012, where he gained only 31 votes from his colleagues to Gillard's 71.

Another botched attempt to change the leadership came in March, when party elder Simon Crean called for a leadership spill in a press conference, resulting in Gillard announcing a leadership ballot on the same day.

Events took a twist when Rudd announced right before the caucus ballot that he would not be putting his hand up for the leadership, resulting in Gillard retaining her position unopposed.

Crean was later sacked and several other parliamentarians who supported Rudd resigned from their posts within the government after the unsuccessful tilt.

Rudd's return as prime minister may lead to a change in the Sept. 14 election date previously set by Gillard.