An 'historic moment' for the Green Party - James Shaw

Greens' leader James Shaw said Thursday is "an historic moment for the Green Party", after the news that Labour and New Zealand First will form a new Government.

He said the Greens had "an incredibly tough campaign" but a "strong finish".

"For the first time we are going to be probably in a position to have Ministerial control in the areas that are important to us and the areas that we campaigned on," he told media in a press conference.

The Greens will have three Ministers outside of Cabinet and have formed a confidence and supply agreement with the Labour Party.

The agreement means outside of confidence and supply issues, the party will be free to vote against legislation that it doesn't support.

"It gives us the ability to stick with or values, to retain our distinctiveness," Mr Shaw said.

The party's agreement with Labour will be made public in the coming days.