After inconsistent form in the lead up games, this result will give Mark Hager's team something to build on for the rest of the campaign and the belief that they can compete at this level.
In front of a passionate home crowd, New Zealand silenced the spectators for long periods with some spirited play though the South Americans dominated possession and territory.
The Black Sticks absorbed some early pressure before working their way back into the game, though they found it hard to penetrate the massed circle defence of Argentina.
The match opened up as the first half wore on and the Black Sticks found some fluency going forward.
Their first real chance came after 18 minutes via a penalty corner but they were unable to create a clear shooting opportunity, continuing an unfortunate pattern of recent weeks.
The first goal of the match came just before the half hour and it was a stunner.
Seeing Luciana Aymar's stick skills up close obviously inspired Stacey Michelsen as the midfielder came up with a stunning 40m run, eluding four defenders as she weaved her way into the area. As the Argentine goalkeeper advanced, the 20-year-old slid the ball beautifully over her into the goal.
The crowd fell silent. Two minutes later and the lead could have doubled, Charlotte Harrison just failing to connect with a cross six yards out.
If the spectators were stunned, they were shocked fourteen minutes into the second period when New Zealand doubled their lead.
After an excellent build-up, Katie Glynn's backhand shot was saved by Belen Succi but Sam Harrison was on hand to lift the rebound over the keeper. It was all New Zealand deserved, as two minutes earlier Gemma Flynn's angled shot had produced a wonder save from Succi, somehow knocking it away with her right shin.
Argentina had to respond and they did, though from a weird channel.
They had applied incessant pressure - without managing too many clear cut openings - before Martina Carvallero scored in the 51st minute. There was some doubt over the strike but after a prolonged video referral the goal was eventually allowed.
The hosts then laid siege to the New Zealand, equalising with their second penalty corner, after a clever deflection from Delfina Merino, in the 67th minute.
Pool B rivals Germany won an entertaining match 4-2 over Korea, the highlight being a spectacular half volleyed goal from German Celine Wilde in the first half.
In Pool A, Holland opened with a 3-1 victory over China, the third Champions Trophy tournament in succession that the Dutch have won their opening match.
Great Britain were perhaps the most impressive, clinically disposing of Japan 3-0 and have now not conceded a penalty corner goal from the last 21 penalty corners awarded against them.
New Zealand's next match is against Korea tomorrow at 9:30am (NZST).
New Zealand 2
Argentina 2
* Herald on Sunday writer Michael Burgess travelled to Argentina with assistance from Hockey NZ.
