Sir James contested the Northern Maori seat for National after sitting member TP Paikea, died in 1963, but lost by 454 votes to Labour's Matiu Rata.
Taurekareka Henare was a Reform Party MP for Northern Maori from 1914-38.
Peeni Henare works as a business advisor for the Ministry of Social Development but is withdrawing from ministry contracts while he campaigns for the election.
He is chairman of the Ruapekapeka Pa Trust and a member of the Ngati Hine Forestry Trust and other Maori trusts.
Mr Henare lives at Moerewa with his wife, Maia, who is a teacher, and their four children.
He said he had grown up in a family steeped in both Maori and national politics so he was looking forward to the months of campaigning which lay ahead of him.