Egypt's president-elect Mohamed Morsi delivers a speech at Cairo's Tahrir Square, Egypt, June 29, 2012. (Xinhua/Li Muzi)

Egypt's president-elect Mohamed Morsi said Friday that people is the source of power and legitimacy in a speech in downtown Cairo's Tahrir Square, the epicenter of last year's turmoil.

He said no one and no institutions are above the will of the people.

Amid cheers from hundreds of thousands of supporters in the square, Morsi shouted "Revolutionists, free, we will continue our way." He also vowed to work for making Egypt a pioneer in the fields of arts, media, education, researching, science, agriculture and industry.

In his speech, Morsi took the symbolic oath before the crowds, asserting that he will protect the state interests and respect the constitution and the laws.

Morsi also pledged that Egypt will be free in its foreign relations, and will not follow any power's desire.

At Friday noon, Morsi performed prayers at the Al-Azhar Mosque in Cairo.

The president-elect will be sworn in before the Supreme Constitutional Court on Saturday.

In the first democratic and free presidential polls after the fall of ex-President Hosni Mubarak last year, Morsi defeated former Prime Minister Ahmed Shafiq in the run-off vote to become Egypt's first civilian president in six decades.