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The US said the two sides would make joint efforts to promote stability after the US seized Maduro and his wife.
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The agency said in a statement that the two sides would make joint efforts to promote stability, support economic recovery and advance political reconciliation.
While their diplomatic relations have been improving since the US military captured Venezuelan President Nicolás Maduro in January in a surprise raid, the announcement of formal bilateral ties marks a hugely symbolic step.
President Donald Trump ordered troops to seize Maduro and his wife, bringing them to a Manhattan court to face allegations of weapon and drug offences, which they deny.
The US embassy in Caracas, which closed in 2019, has already reopened, and Washington has appointed a new diplomat in Venezuela.
The Venezuelan government said on Thursday it was willing to advance a "new stage of constructive dialogue, based on mutual respect".
It said the relationship must result in the "social and economic happiness of the Venezuelan people".
But the statement from Caracas made no reference to a transition or future elections, unlike the US state department's.
The US has accused Maduro - who is due to stand trial this month in the US - and other members of his government of leading a criminal organisation involved in activities such as illegal mining and drug trafficking.
Sources told the BBC that more diplomatic staff from the US embassy in Bogotá, Colombia, are expected to be transferred to Caracas soon. The move will make it much easier for officials to negotiate face-to-face and provide consular services.
The US state department said its engagement was focused on helping Venezuelan people move forward through a "phased process that creates the conditions for a peaceful transition to a democratically elected government".
After a visit to Venezuela, US Secretary of the Interior Doug Burgum told reporters on the runway in Caracas on Thursday on his way back to the US that it was a "brilliant strateg
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