The return to 10-year passports could come about in around six months' time, according to the Prime Minister.
John Key told TV3 this morning that the changes to the validity period of passports would "take a while" but should take around six months.
"The proposal is going to cabinet pretty soon," he said.
"Give it six months or so."
Passports were reduced to being valid for five years in 2005, and Mr Key said the shorter period was "annoying".
He said the cost to renew a passport would be higher than the current $135, but wouldn't be drawn on an exact figure.
He said it would be more than $135, but less than $270, the cost for two five-year passports.
New Zealand moved to five-year passports in 2005 in response to security concerns sparked by the 2001 terrorist attacks in the US.
It was expected that other countries would do the same, but this did not happen. Australia and the US still require their citizens to renew their travel documents only once a decade.
In addition, developments in biometric technology have allayed concerns about passport fraud and counterfeiting.
Last year, a 12,000-signature petition organised by Australian-based New Zealander Kyle Lockwood urged Parliament to return 10-year passports.
Previously, Mr Lockwood had said five-year passports were "frustrating and expensive", especially for people living abroad where residency visas had to be updated every five years.
"We have found that many dual citizens have given up renewing their New Zealand passports because of the short five-year validity term," he said.
New Zealand's major trading partners, including the US, Britain, Canada and Australia, all had 10-year passports, Mr Lockwood said.
The petition was backed by a parliamentary committee, but the Government was less enthusiastic.
It said biometric chips were only one of a number of security measures, and having shorter validity periods allowed passports to be refreshed with the latest technology more frequently.