It was announced without the great fanfare of his first executive order.
This time, United States president Donald Trump signed the new travel ban order in private, away from cameras or the press.
Instead, the heads of the agencies were left to provide the details of the revised order at a media briefing in Washington.
Secretary of State Rex Tillerson says the move is critical to US national security.
"It is the President's solemn duty to protect the American people, and, with this order, President Trump is exercising his rightful authority to keep our people safe. As threats to our security continue to evolve and change, common sense dictates that we continually re-evaluate and reassess the systems we rely upon to protect our country."
The new order will again put a 90-day ban on travel to the United States by citizens from Iran, Libya, Syria, Somalia, Sudan and Yemen.
Iraq has been dropped from the original list of banned countries after the Iraqi government imposed new vetting procedures.
Mr Tillerson points to Iraq's role in fighting the self-proclaimed Islamic State, or ISIS, with the United States as an important factor.
"Iraq is an important ally in the fight to defeat ISIS, with their brave soldiers fighting in close coordination with America's men and women in uniform. This intense review over the past month identified multiple security measures that the State Department and the government of Iraq will be implementing to achieve our shared objective of preventing those with criminal or terroristic intent from reaching the United States."
The new executive order also ensures tens of thousands of legal permanent residents in the United States - or so-called green-card holders - from the listed countries are not affected.
Syrian refugees, who were to be banned indefinitely in the President's original order, will now face a reduced 120-day suspension, consistent with refugees from other countries.
The new order is set to take effect on March the 16h.
US homeland security secretary John Kelly says the restrictions will be rolled out gradually to limit the chaos for travellers created by the original order.
"We are going to work closely to implement it and enforce it humanely, respectfully and with professionalism, but we will enforce the law. I want to thank the President for his leadership on this issue, and for his steadfast support for our important law enforcement security and counterterrorism mission."
Donald Trump's controversial first travel ban attempt resulted in more than two dozen lawsuits in US courts.
The state of Washington succeeded in having it suspended by the 9th Circuit Court of Appeals, arguing it violated constitutional protections against religious discrimination.
Attorney-General Jeff Sessions says he is confident the new order is legal.
"This executive order responsibly provides a needed pause so we can carefully review how we scrutinise people coming here from these countries of concern. Second, the Department of Justice believes that this executive order, just as the first executive order, is a lawful and proper exercise of presidential authority."
But the order has faced criticism from Democrats and civil-liberties groups.
Senate Democrat leader Chuck Schumer has described the new order as a "watered-down ban" still "mean-spirited and un-American".
The immigrants' rights project director at the American Civil Liberties Union, Lee Gelernt, says the new order is not good enough and the group plans to challenge it in court.
"The main problem we have with this second executive order is we believe it's based on religious discrimination. The President's statements leading up to the first executive order, his statements afterward and the language of the first executive order all reveal that what is essentially going on is a ban against Muslims. The fact that they've tweaked the order does not eliminate that taint."
