Dozens of officials, tribal chiefs and civil society representatives took part in the ceremony amid tightened security measures.
The new constitution has been billed as a milestone in the North African country's transition from the 42-year dictatorship of Muammar Qaddafi, who was overthrown and killed in 2011.
But 13 of the 60 assembly seats remain vacant, after unrest in certain areas stopped voting in a February 20 election to choose the body. A date for a new poll has yet to be set.
Assembly spokesman Naji al-Harbi said the remaining 47 members attended Monday's ceremony and held their first talks to elect a president and discuss rules of procedure.
The body, which has 18 months to prepare a draft constitution, is based in the eastern town as it was for the 1951 charter that Qaddafi abolished in 1977.
Eastern Libya was the cradle of the 2011 revolt.
The country is awash with weapons from the conflict, and authorities have struggled to establish security by integrating anti-Qaddafi militias into the regular army or police force.
RA/NJF