"We can never fully compensate for the wrongs of the past but this settlement enables Ngati Toa to build a stronger future," Mr Finlayson said.
The iwi is to receive financial redress of $70.6 million, including opportunities to purchase and lease back Crown properties and a right of first refusal over surplus Crown properties.
The Crown will also introduce legislation providing Ngati Toa rangatira with a right of attribution for the Ka Mate haka, requiring Te Rauparaha, who composed it, to be acknowledged whenever it is used in a commercial setting.
Mr Finlayson said another key part of the settlement was "a multi-faceted redress package over Kapiti Island reflecting its significance to the iwi".
The island was Te Rauparaha's stronghold for a number of years.
The package included vesting of and gifting back part of the island.
A ceremony at which Mr Finlayson will formally apologise to the iwi will be arranged later and legislation giving force to the settlement will be passed next year.
Ka Mate lyrics
Ka mate, ka mate
(I die, I die)
Ka ora, ka ora
(I live, I live)
Ka mate, ka mate
Ka ora, ka ora
Tenei te tangata puhuruhuru
(This is the hairy man)
Nana nei i tiki mai whakawhiti te ra
(Who caused the sun to shine again for me)
A upane! Ka upane!
(Up the ladder, Up the ladder)
A upane, ka upane
(Up to the top)
Whiti te ra!
(The sun shines!)
Hi!
(Rise!)