The new device, which weighs just under one pound, has a 12 megapixel camera and "True Tone" flash.
Apple Vice President Phil Schiller said the company has sold more than 200 million iPads with a 9.7-inch display.
For the first time, the iPad will be available in rose gold, as well as three other metal finishes.
The 32 GB model starts at $599 and $749 for the 128 GB one, with Wi-Fi, Schiller said.
For the first time, you can also fork over $899 for a giant 256 GB model. The 12.9-inch iPad Pro starts at $799 for the 32 GB model, $949 for the 128 GB model and $1,099 for the 256 GB model.
Orders begin this Thursday and start shipping March 31.