Wes Edens and Nassef Sawiris took over the club last summer when it was facing the threat of administration after losing at Wembley to Fulham.
Twelve months on and Villa have returned to the Premier League thanks to a 2-1 win over Derby County, but their new owners say they won't just be making up the numbers in the top tier.
"The sky is the limit, with such a fanbase and such a great squad," said Sawiris on Sky Sports. "We've seen that with great management.
"Our ambition was not just to get promoted but to do well in the Premier League.
"It just feels great to be able to do something for all these great fans behind us."
Edens echoed his business partner's thoughts, and claimed he foresaw Villa's remarkable run into the play-offs built on a club-record 10-game winning streak.
"I have to say I did envisage it," said the 57-year-old. "We had 12 games left when Jack (Grealish) came back – we had to win 10, we thought, to make it and made it easy because we won 10 in a row.
"And from then on we believed the whole time we would be standing right here.
"To be here on this pitch with my partners and all these fans, it's truly incredible."
Edens and Sawiris saved the club last summer and brought in chief executive Christian Purslow, who said Villa were one year ahead of schedule.
"They bought this club last July when it was at its lowest ebb in its proud history," said Purslow. "They've been brilliant owners, they are hugely experienced in sport.
"They asked me to come and join them – I'm so proud and honoured to be here with them and to make all these incredible fans so proud. It's the best day you could imagine.
"If we hadn't gone up, the club would still have been in fantastically good hands for the long term.
"We are probably a year ahead of plan, but we can now really crack on and really go for our ambitious plans to get this club right back at the top of British football."