Hunting groups say the passing of new legislation is the most significant milestone for the sector in more than 80 years.
The Game Animal Council Bill passed under urgency in Parliament on Wednesday establishes a body to manage animals on behalf of hunters.
Game and Forest Foundation chairman Tom Williams said animals such as deer, tahr and wild pigs were valued species and had been the source of much conflict between hunters and the Department of Conservation, but the council should help promote co-operation between the two bodies.
The president of the Pig Hunting Association, Warren Peterson, said the council would be able to concentrate only on game animals instead of having to compete for resources or changing priorities.