Maori party co-leader Tariana Turia says the reading of the Ngati Apa (North Island) Claims Settlement Bill has been an emotional event for her.
Mrs Turia says her Rangitikei-based iwi lost 99% of its land during colonisation and was never given the reserves it was promised.
She told Waatea News that had a huge impact on the iwi, and led to the loss of much traditional knowledge.
Mrs Turia says she feels proud the young people who negotiated the settlement were able to put the past behind them.
The settlement will include an apology from the Crown, $16 million in commercial and financial redress, and a right to purchase 6500ha of Crown forest licenced land.
The bill had its first reading on Tuesday.