She described the trust, involving all those who had a key interest in the area, as the best way forward, rather than expensive and lengthy litigation through other processes and hopes it will encounter "goodwill and common values".
At the National Party Blue Green forum at Akaroa at the weekend, Mrs Dean announced her plan for a trust, which followed the Mackenzie Country Symposium at Twizel in November.
At the symposium, Environment Minister Dr Nick Smith said there could be government funding available through the Ministry for the Environment to prepare a future plan for the area, providing it was driven by local people.
Mrs Dean said the area was "an iconic and treasured part of New Zealand" but there were real pressures and tensions over its future.
"The risk is that these will be fought out in years of divisive legal battles under differing processes over water, land use and tenure review," she said.
Her Mackenzie Sustainable Futures Trust would bring key parties together to develop a shared cohesive vision for the basin.
Terms of reference for the trust were still being established in consultation with interested parties.
The key to its success would be a broad membership, wide buy-in and a real commitment of the respective parties to work together on a balanced plan that incorporated economic development and environmental sustainability.
"We also need to recognise that there are important land-owner rights as well as broader public environmental values that need to be brought together to achieve the best way forward," she said.
Mrs Dean said the trust's working group would comprise people who lived in the area and others with strong links to the area.
The concept had been discussed with a wide range of groups which had identified their interest in the collaborative approach, including Federated Farmers, Ngai Tahu, irrigation interests, power companies Meridian and Genesis, Fish and Game, environment and conservation groups as well as the Mackenzie and Waitaki mayors and Environment Canterbury (ECan).
"There is strong support for this initiative but we need to get the detail right. The trust's establishment aims to achieve a high level integration of land and water development to guide other processes, avoid duplication and work to keep everyone informed."
The new trust, and the collaborative approach it would advance, was based on the success of initiatives like the Fiordland Guardians and the Land and Water Forum, achieved by parties coming together to develop a common vision for the future.
Mrs Dean said Dr Smith was prepared to give his support if there was strong local buy-in to the process.
Next month, Mrs Dean would finalise details of the trust.
