He told The Aucklander that it was great for New Zealand's sailing history that the boat would return home.
"It's been talked about for a long time. Rumours heated up when the boat was returned to its original colours and livery and now it's been done."
Tony Stevenson, from the NZ Sailing Trust, said he hoped the yachting fraternity would be out to welcome the boat home.
"It would be great to have as many boats out there as possible, to give her a decent welcome. She's been away for more than 20 years so it's great to have the boat join Lion New Zealand on our waterfront for everyone to enjoy."
Steinlager II will sail past North Head around midday on May 5, and will go on display at the Viaduct on May 6 between 10am and 4pm.
People can go on board in return for a gold coin donation, which will go to the NZ Sailing Trust youth development programme set up in memory of Sir Peter, who was killed by pirates on the Amazon river in December 2001.
Read more on theaucklander.co.nz