The machine features a faster processor, improved graphics and front and rear cameras, Apple said.
Although the manufacturer currently leads the industry in sales of tablet devices, it is beginning to face competition from rival firms.
Apple chief executive Steve Jobs, who has been on medical leave since January, presented the new wireless communications device at the event.
"We have been working on this product for a while and I just didn't want to miss today," he said.
According to Apple, the iPad 2 is slimmer, lighter and faster than its predecessor.
A report released by Strategy Analytics said that the Apple iPad had gained a 95 per cent share of Tablet PC sales at the end of the second quarter of 2010.
Indeed, during the second quarter of 2010, Apple sold 4.19 million iPads worldwide.
