"Kura Pounamu: Our Treasured Stone" is a display of more than 200 pounamu pieces including tools (toki), human form pendants (hei tiki) and weapons (mere).
Curator Maori Dr Gerard O’Regan said the exhibition had travelled the world and he was delighted it was able to be enjoyed in Dunedin.
The collection included examples of pounamu used to create tools, ornaments and weapons.
Most of the sources of pounamu in New Zealand were on the West Coast. Another important source of pounamu was Milford Sound (Piopiotahi), where tangiwai (bowenite) was found.
In the Otago region, sources of pounamu originated in Mt Aspiring National Park.
"They would be looking for smaller pieces that had been broken up, that were already useful."
Pounamu became known by Maori from the very early times of arrival in New Zealand in the mid-13th century.
After the arrival of European settlers and the availability of steel for making tools, Maori started to make adzes out of steel and an industry evolved where pounamu adzes were converted into hei tiki.
Examples of the conversion could be seen in the exhibition, some adzes having been partially formed into hei tiki.
"Hei means to hang by the neck, and so we get hei tiki — tiki is a human form, hung by the neck."
Each piece told a story from the choice of pounamu, how it was shaped and how it was first used, but also how it was passed down the generations.
Some pieces were traded as part of peace settlements after wars, or were given to strengthen relationships between tribes.
"They take on different meanings by the way they were used," Dr O’Regan said.
The exhibition also included contemporary pounamu designs by some of the nation’s most experienced craftspeople.
Throughout the "Kura Pounamu" exhibition there were audio visual displays guiding visitors through the different landscapes where pounamu were found.
The museum also housed its own extensive collection of pounamu that could be explored, Dr O’Regan said.
The exhibition is being presented by Te Papa Tongarewa and Te Runanga o Ngai Tahu and runs to August 28.