"Shrek 2" has been found living in a forestry block adjoining Wairakaia Station at Muriwai and the long, woolly beast of a sheep will feature at the Poverty Bay Spring Show.
The Gisborne Shrek rivals the Merino wether found on Bendigo Station near Tarras in Otago that gained international fame in 2004.
The original Shrek avoided the muster and the shearer for six years.
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Rob Faulkner, from Wairakaia, said the Gisborne Shrek had eluded him for around five years by living in a forestry block alongside the station.
"Every attempt we made in the past to muster the animal failed. Over time sheep like it become a bit feral and get very cunning.
"A few weeks ago it got into the back paddock and I realised just what a magnificent sheep it was."
Faulkner said he has not yet been able to tell its gender.
He has talked to the people on the Poverty Bay A&P Show committee and it was agreed the Wairakaia Shrek will make an appearance.
"We are working on a 'guess the weight of the fleece' competition, and at some time on the Friday afternoon of the Show, Shrek 2 will be shorn.
"We are looking for a sponsor for the prize, which will be given out, along with the other livestock prizes."