The 15 cultural sites which will be vested to Ngati Kahu ki Whangaroa total about 3422.3ha and include Kowhairoa Peninsula property (about 282.9ha).
A cultural fund of $300,000 will also be given for the development and implementation of a historic reserve management plan for the property.
David Manuel, chairman of Ngati Kahu ki Whangaroa's post-settlement governance entity, Kahukuraariki Trust, said the settlement gave iwi the chance to move on.
He said it would help the iwi to create training opportunities and scholarships for whanau and hapu.
''It's never enough, based on how long the land had been in Crown ownership. But it is an opportunity for us to step forward and to move forward for future generations," he said.
Since the signing of the settlement the Crown had released $3m of the funds.
The iwi will conduct a feasibility study on Stony Creek Station farmland to determine what it could be used for in the future.
"We also hope in the future to set up training services and scholarships for college students. That's the sort of vision we want for our people," he said.
Maori Development Minister Te Ururoa Flavell said the settlement recognised the Crown's failure to properly investigate pre-Treaty land transactions within the Ngati Kahu ki Whangaroa tribal area.