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The pictures, released by the Swedish royal family, show two-year-old Estelle tenderly kissing Princess Madeleine's daughter on the head and holding on to her tiny foot.
Both princesses are dressed in matching white dresses as they sit together surrounded by white sheets and pillows.
Princess Leonore and Princess Estelle
Shortly after the photos were released, proud mother Madeleine re-posted one of the charming images with the caption, "A cousin is a ready-made friend for life..."
"Greetings from Princess Estelle and Princess Leonore," wrote Madeleine. "These pictures were taken in mid-April when Princess Estelle met her new cousin Princess Leonore for the first time, in the Crown Princess couple's visit to the United States."
Princess Madeleine shares sweet new photo of her 'little angel' Leonore
Royal watchers had been eagerly awaiting the first photo King Carl XVI Gustaf and Queen Silvia's two grandchildren, but arranging it had been difficult given that the youngsters live on opposite sides of the Atlantic.
While Estelle lives in Stockholm with her parents Prince Daniel and Princess Victoria, Leonore was born in New York where her parents, Chris O'Neill and Princess Madeleine, are based.
Leonore will be christened in Sweden, however, on 8 June — exactly one year after Madeleine and Chris tied the knot.
The couple have also chosen to baptise Leonore at the same place as their wedding where their wedding took place, the Royal Chapel at Drottningholm Palace.
Princess Estelle of Sweden turns two: a gallery of the youngster's sweetest moments
Madeleine, 31, and Chris, 39, welcomed their first child together on 20 February, almost two years to the day after Victoria gave birth to Estelle.
Little Leonore Lilian Maria is the fifth-in-line to the Swedish throne, while Sweden's future queen Estelle is second.