Israel and the UN say Shebaa, occupied during the 1967 Arab-Israeli war, is Syrian.
Damascus and Beirut, which never demarcated borders, claim it is Lebanese.
The policy statement was discussed in five days of parliamentary debate which underlined a wide divide over Hezbollah's arsenal.
The ruling majority, backed by the West and most Sunni-led Arab states, nevertheless insists on Hezbollah's disarmament, a move Hezbollah and its political allies reject.
Hezbollah's weapons will be discussed at a later date as part of a "national defence strategy" during a national dialogue to be chaired by Michel Sleiman, Lebanon's president.
The national dialogue is part of the Qatari-mediated deal that ended Lebanon's political conflict.
The policy statement also emphasised the government's commitment to a UN Security Council resolution that ended a 34-day war in 2006 between Hezbollah and Israel.
It also adopted changes to economic policies agreed at an international aid conference held in Paris in 2007.