The university's rocketry research project member and postgraduate student David Wright said the team hoped New Zealand's position in the world of high powered rocketry would be bolstered as a result of the flight.
"This proves that we can both compete on a world stage and lead the way by using innovative techniques to vastly improve performance of these vehicles."
The 740mm rocket was named Milly and was launched with the help of PhD student George Buchanan and other members of the rocketry project.
The University of Canterbury runs New Zealand's only rocket course, with students designing and implementing aspects including the airframe, 3D printing of canards, rocket engine design, sensors, control systems and parachute recovery.
Data from the launch has been sent to the NZ Rocketry Association for verification.