The volcanic alert for Whaakari/White Island has been lowered to level one, however minor volcanic unrest continues on the island.
The decision is based on the "slowly decreasing" level of volcanic activity and observation of ash emissions ceasing, Geonet said in a statement.
"Alert level 1 indicates the primary hazards are those expected during volcanic unrest; steam discharge, volcanic gas, earthquakes, landslides and hydrothermal activity."
The island was previously at alert level two which indicated moderate to heightened volcanic unrest.
The volcano was moved into level two on July 26 and has been in a "period of heightened unrest above background activity levels since then," GNS Science duty volcanologist Yannik Behr told the Bay of Plenty Times.
Whakaari/White Island last erupted on December 9, 2019, killing 22 people.
Geonet said observations and monitoring data over the past two months had been "progressively trending back to lower levels" of unrest that were typical for the long-term behaviour of the volcano.
While the temperature of the emitted gas and steam remained elevated, it had dropped below 300 degrees celsius.
It also said discharge rates of sulphur dioxide, hydrogen sulphide and carbon dioxide gases were either at, or below, longer-term trends.
And minor or dilute ash emission had not been observed since late February.
But there was still potential for an eruption with "little or no warning".
The alert level reflected the current level of volcanic activity and was not a forecast of future activity, Geonet said.