The former Newcastle United boss has replaced Alex McLeish at St Andrew's and says the immediate target is to gain promotion straight back to the Premier League after falling to the second tier last term.
"Yes. We know it will be a tough task. I hope I can do it," he told Sky Sports.
"The ultimate aim is to get back into the Premier League, and the job starts now.
"It's a tough season, a very tough division. I feel you want to work at a club where you have a good chance of getting back where this club wants to be and belongs. I feel I have that here."
And Hughton says he is well aware that going back to the Championship makes life a little more difficult for the club.
"I am aware that with relegation comes a financial side that has to be balanced," he added.
"We have had some very good players that have shown a desire they want to remain Premier League players.
"These are the type of things I will be addressing over the next day or so."