V8 Supercars chairman Tony Cochrane says Pukekohe will again be New Zealand's premier motorsport venue after a decision to stage the New Zealand round of the series there for at least the next five years.
PHOTOS: V8 Supercars in Hamilton
The round will move back to an upgraded Pukekohe Park, south of downtown Auckland, from 2013, after four years on a Hamilton street circuit.
The Hamilton 400 ran for the last time in April after the city council there baulked at the cost of staging the annual event.
The outlay was estimated to be more than $40 million since 2008.
An announcement on Thursday says V8 Supercars, Auckland Tourism Events and Economic Development, the government, Auckland Council and Counties Racing Club have agreed to a multi-year arrangement.
The agreement covers five years, with an option for five more.
Mr Cochrane says Pukekohe is an ideal and proven location.
"The circuit has an amazing history and heritage in New Zealand," he said in a statement.
"It is a terrific layout, has plenty of available space and is just 35 minutes from the Auckland CBD, and even closer to the international airport."
Pukekohe hosted the New Zealand round from 2001 to 2008, with local fan favourite Greg Murphy winning four times.
Mr Cochrane said that, as part of the agreement, V8 Supercars would assume the financial risk of the event as the promoter, with funding assistance capped.
He said this would avoid the issues that dogged the event in Hamilton.
Substantial improvements would be made to the circuit proper, with infrastructure from the Hamilton 400 being transported to Pukekohe.
Auckland Mayor Len Brown, whose council will commit $2.1m annually for five years, backed supporting the "significant economic anchor event".
Economic Development Minister Steven Joyce said the Government's Major Events Development Fund would give a one-off contribution of up to $2.2m to support infrastructure upgrades at Pukekohe Park.
Mr Joyce said the upgrades would be completed by April and provide a legacy for other motorsport events.