The Crown has today signed a $100 million Deed of Settlement with Heretaunga Tamatea in Hawke's Bay.

The settlement includes the purchase of the Kaweka and Gwavas Crown Forest land with Ahuriri hapu, and a $5 million investment in Te Aute College.

Treaty of Waitangi Negotiations Minister Chris Finlayson said they can never fully compensate the iwi but it's a good base for a strong cultural and economic future.

He says it's a very significant settlement.

Heretaunga Tamatea's area of interest extends from southern Napier to Takapau in central Hawke's Bay.