They will also have 16 sites of cultural significance returned to them, and will receive an apology from the Crown for the breaches of Te Tiriti o Waitangi.
The apology will include recognition of the imprisonment and exile of Ngāti Maru people engaged in peaceful protest at Parihaka.
Minister of Treaty Negotiations Andrew Little said it would "never be able to compensate Ngāti Maru for the true measure of the loss they have suffered", but he hoped it would "go some way to atone for these injustices".
Māori Party co-leader and uri o Taranaki Debbie Ngārewa-Packer said the theft of whenua in Taranaki and the rape and murder of women and children was "devastating".
"It's important for Aotearoa to know the true history and the resilience that Taranaki and indeed Māori, and tangata whenua have endured to be here today."