The history of thoroughbred breeding in New Zealand goes back to the middle of the nineteenth century when people such as Henry Redwood, "father of the New Zealand turf", bred, raced and imported thoroughbreds and began the proud Kiwi tradition of raiding Australia's major races.

The first National Yearling Sale was held in January 1927 and the first meeting of people interested in forming a breeders' association took place in January 1948. At that time a provisional Council was set up consisting of several of the country's leading breeders: Messrs Ken Austin (Chairman), Bob Stead, J.G. Alexander, James Fletcher, J. Donald, Jack Higgs, Charles Robertson and Alister Williams. This committee then set about contacting people likely to be interested in forming an association of breeders. The response to their canvassing efforts was remarkable, with responses from almost 500 people.

The first general meeting of the NZTBA was held in Wellington on 16 March 1948 and a full-time secretary, Mr L.R. James of Wellington was appointed, beginning work on October 1st 1948. The first annual meeting of the NZTBA was held on 25 January 1949 in Wellington. Mr Ken Austin presided over the meeting and gave a comprehensive description of the purpose of the Association. His words still guide the NZTBA's activities today: ' to encourage, promote, advance generally and ensure co-operative efforts in all matters pertaining to the production and improvement of the Thoroughbred and the interests of Thoroughbred breeders.'

By 31 July 1949 the Association had 460 financial members and 140 applications for membership. The annual subscription was two guineas.

On 8 February 1998 the NZTBA celebrated its 50th birthday with a memorable luncheon at Patrick and Justine Hogan's Cambridge Stud.

The current annual subscription is $NZ225.00 and the Association's membership stands at approximately 1200, spread among eight regional branches, the Studmaster branch and overseas members.