Photographs of a document signed by Trump and Kim indicate the leaders agreed to "work toward complete denuclearization of the Korean peninsula."
In exchange, Trump agreed to "provide security guarantees" to North Korea.
The document also indicates the leaders will endeavor to establish "new US-DPRK relations."
"I think our whole relationship with North Korea and the Korean peninsula is going to be a very different situation than it has in the past," Trump said at the conclusion of the landmark summit, which culminated in formal signing ceremony.
"Today, we had a historic meeting and decided to leave the past behind," Kim said through a translator. "The world will see a major change."
What precisely was agreed upon during the nearly five-hour summit was not initially clear as the two leaders sat next to each other and autographed documents in leather binders.
Trump said it was a "pretty comprehensive document," but offered no other details on what it contained. When asked about the prospects of denuclearizing North Korea -- the administration's longstanding objective -- Trump said the process would begin "very quickly."
He was more forthcoming about his negotiating partner, with whom he said he developed a "special bond."
"We learned a lot about each other and our countries," Trump said before bidding Kim farewell. "I learned he's a very talented man."
He said he would "absolutely" invite Kim to the White House.