The Portuguese was appointed as Toffees boss in May after he was sacked by Watford in January.
Everton endured a tricky season last time out, initially struggling but ultimately finishing eighth in the Premier League table amid heavy fan criticism of former boss Sam Allardyce and the club board.
Silva has expressed his excitement at taking the reins at Goodison Park and has stressed that he and his backroom staff are doing all they can to improve the squad.
"First of all I am excited because it is the next challenge," Silva told Sky Sports News. "It is the present and for me always in football if the most important is what we are doing now in the present.
"It is a big challenge, big club, I am really excited to be here and proud as well for me and my staff to be working here. What we want is to make our fans proud in what they are seeing every day. I know what they want, the expectations are really high, it is normal.
"At a big club like Everton that is normal. We must do everything we can to prepare well our squad. In terms of day by day, every day in work and after trying to attack the market at the right times as well to improve our squad. This will get ourselves more competitive. I know what our fans expect and we need to do everything to get ourselves back."