The new event will be called IronMaori Taupo - Nui-a-Tia and will take place on March 18.
Trust board chief executive Topia Rameka said it was proud to be the main sponsor and was committed to making the event a success.
"IronMaori Taupo - Nui-a-Tia will be an exciting and fun event that is open to everyone," he said.
"For Ngati Tuwharetoa, this kaupapa is really important - it's about supporting and encouraging healthy lifestyles for the whole whanau and community.
"We will be encouraging as many locals as possible to enter the event, and to give our Tuwharetoa whanau a bit of extra motivation we'll be offering them subsidised entry fees."
IronMaori founder Heather Skipworth said IronMaori was continuing to grow in popularity and would be held in five locations around New Zealand in 2017, including Hawke's Bay, Taranaki, Auckland, Wairarapa and now Taupo.
"We are expecting around 15,000 participants overall, with Napier hosting five of the 10 events this coming year," she said.
Registrations will be open from December 14 this year with costs to enter at standard IronMaori prices. Taupo and Turangi locals can register in person at the Tuwharetoa Māori Trust Board offices.
The new event being held in Taupo has come as welcomenews for Rotorua competitors who frequently travel to Hawke's Bay to compete.
Natalie Richards from Rotorua said they had a group from their local sports social club, Tau Te Mauri, attend the IronMaori event at the weekend in Hawke's Bay. About 20 people entered either the individual or team events.
"The wairua, or atmosphere is one that simply cannot be found at any other event, hence the huge attraction, and the reason for return entries.
"The event branching across to Tuwharetoa is excellent as it means that there is another opportunity to participate in the event a little closer to home. Tau Te Mauri expect to have a number of participants in the March event, following on from NZ IronMan which is only a week or two earlier."
Duane Bishop from Rotorua, who has competed a few times at the main IronMaori event in Hawke's Bay, described the news as "wicked".
"Being closer to Rotorua is a real bonus and will probably attract more people. IronMaori is one of the most inspiring events I have been part of and to see whanau big, small, young and old out there giving it their everything is awesome."
Mr Bishop said he would love to see more locals take part and the great thing about the event was that individuals and teams could enter.
Rotorua IronMaori competitor Kiri Kepa said the Taupo event was good news.
"It would be cool if it was in Taupo, less travel time. Getting fit for our people is becoming more of a priority so I think people will love this."
IronMaori Taupo - Nui-a-Tia event details:
* Tamariki (children) event, team of two or individual, swim 100m, run 1km
* Rangatahi (youth) event, team of three or individual, swim 500m, bike 10km, then run 2km
* Adults' event, team of three or individual, swim 600m, bike 20km, run 5km
* All IronMaori Taupo - Nui-a-Tia events are open for registration by individuals and teams of two for the tamariki event and three for rangatahi and adult events.
* Costs to enter are at IronMaori's website, www.ironmaori.com.
