"I imagine [farmers] will be delighted," he said.
MetService forecaster Stephen Glassey said it was too early to predict how quickly the weather system would move over New Zealand.
He said it was likely to arrive at the start of next week and bring rain to most of the country.
"Typically these systems that come down from the north Tasman Sea do have the potential to bring heavy rain," he said.
WeatherWatch.co.nz analyst Philip Duncan said the low had the potential to be "a real game-changer" but warned there "are never any guarantees when it comes to the weather".
"Yes, we think a low is likely. Yes, we think it will bring rain to New Zealand. No, we can't say for certain exactly where the heaviest rain will fall at this early stage," Mr Duncan said.
An official drought has been declared for the North Island following one of the driest summers in more than 50 years.