Assad made the announcement at the beginning of a four-way summit which also gathered French President Nicolas Sarkozy, Turkish Prime Minister Recep Tayyip Erdogan and Qatar's Emir Sheikh Hamad bin Khalifa al-Thani.
Syrian-Lebanese diplomatic relations will be discussed during the next few months and the new ambassadors are expected to be appointed before the yearend, Assad said.
During Lebanese President Michel Suleiman's visit to Syria last month, the two neighboring countries announced that they agreed to normalize bilateral ties and demarcate their borders.
"The two presidents have agreed upon the establishment of diplomatic relations at the level of ambassadors in line with the United Nations Charter and international laws," a statement said after Assad and Suleiman held their first round of talks on Aug. 13.
Syria and Lebanon have not established diplomatic relations since their independence from the French colonial rule in the 1940s.
At a following press conference afterwards, Assad said the summit achieved a consensus to support Lebanese President Michel Suleiman to launch a process of dialogue in his country.
"There is a unanimity on the support of the Lebanese President and launching a process of dialogue in Lebanon," Assad asserted.
For his part, Sarkozy told reporters that "what is done by President Bashar Assad on Lebanon has had a significant role in restoring stability in Lebanon."
Suleiman was elected as president after rival Lebanese parties reached an Qatari-brokered agreement in May, ending a long-lasting political crisis in Lebanon. Damascus was deemed to play a constructive role in achieving the pact.
Bilateral ties between Syria and Lebanon had been chilled since the assassination of former Lebanese Prime Minister Rafik Hariri in February 2005, which many blamed Damascus for being behind, but Syria denied any role.
