Thailand Earth Observation Satellite 2 (Theos-2) was successfully launched into orbit on Monday after a slight hitch delayed liftoff on Saturday.
Prime Minister and Finance Minister Srettha Thavisin hailed it as a proud moment for the country.
Geo-Informatics and Space Technology Development Agency (Gistda) broadcast the launch on its official Facebook page at 8.36am local time.
The liftoff had been scheduled at Europe's Spaceport in French Guiana, South America, for Saturday morning.
However, a technical error was detected just a few minutes before the launch. The Theos-2 developer Arianespace later confirmed that the error had been fixed and the satellite was ready for orbit.
Gistda said that the Theos-2 project has greatly improved the quality of the space industry in Thailand.
Many people are now trained and able to pursue space careers, and local manufacturers have developed space engineering capacity.
Prime Minister Srettha, on behalf of the Thai government and people, expressed his delight following the successful launch.
"The government has long supported science, technology and innovation as a way to develop the country and improve the quality of life of the people. The data soon to be generated by Theos-2 will benefit the nation and reduce inequality in many areas, including agriculture, city planning, natural resource management, environment, water management, natural disaster and national security," said Mr Srettha.
He also noted that Theos-2 is the most sophisticated satellite in Asean with a high image resolution, which can detect an object on Earth just 50 centimetres in diameter.
The prime minister also sent his gratitude to the Ministry of Higher Education, Science, Research and Innovation and Gistda for carrying out the Theos-2 project and boosting the space industry in Thailand.
"I genuinely hope that Theos-2 will become a crucial factor that pushes Thailand's advanced technology and better the country's economy and society," Mr Srettha added.
Theos-2 will replace Theos-1, also known as Thaichote, launched on Oct 1, 2008. Gistda said Theos-1 is reaching the end of its lifespan.