Prime Minister Prayut Chan-o-cha presided over the opening.
The floating market at Klong Padung Krung Kasem, which promotes the Thai way of life, extends from Orathai Bridge to Makkhawan Rangsan Bridge.
The market is being promoted by the government in association with the Bangkok Metropolitan Administration (BMA) and will open daily from 11am to 7pm until March 1.
Prayut said the objective of the market was to promote and preserve the Thai way of life and promote eco-tourism on the canal.
The PM said the canal water was so clean that it inspired so much he might get his Cabinet to come to work via canal boat.
He urged the BMA to enforce the law that made every household install a septic tank so that the polluted water was cleaned before being released into canals.
At the floating market, Bangkok districts had shops representing that sold food and products regarded as rare, unique or specialities that may be hard to find such as snacks like Khao Kriab Pak Mor and Khao Kriab Wow and household utensils like an alloy bowl rubbed with stone.
Tha Klangsantia, who sells traditional snacks, hailed the government for giving young Thais the chance to experience traditional Thai food.
Kamku Siewsuwan, who sells Thai desserts, said her shop represented Bang Kae district and enjoyed a roaring trade. She thanked the government for organising the market with free rent.
Weera Chaemsai, who sells old kites made of natural material such as leaves, represent Lad Krabang district.
He said he wanted to teach children how to make the kites but the shop was a bit claustrophobic.
“Kids get exercise playing with kites and if the kites are made of leaves they are better than plastic or paper kites because once they are thrown away, they can become fertiliser,’’ he said.
Anut Ui, 70, who lives near Wat Sommanat, said visiting the market was like walking down memory lane.
“The temple used to be surrounded by canals which were full of traders selling things. It is just the same atmosphere from when I was much younger,’’ she said.