Under the partnership, Sky will stream and broadcast all of the Tokyo 2020 action through extensive coverage across 12 high definition channels and its streaming platforms.

TVNZ 1 will have 12 hours of free-to-air coverage throughout the afternoon and evening with a break for the news at 6 and 7 pm.

"The Olympics is one of the most significant events on the sporting calendar, and we know that New Zealanders love to watch the many special moments it presents," said Sky chief executive Martin Stewart.

"We're delighted to secure the rights for Tokyo 2020 and are pleased to now be bringing TNVZ on board as our free-to-air partner.

"The Olympic Games will involve over 300 events across 33 sports, and New Zealanders will be spoiled for choice with more live-action and content than ever before."

While Sky will offer 12 dedicated channels, those who want to watch on the go will be able to use Sky Go, while casual viewers will be able to access all of the Olympic Games coverage on Sky Sport Now.

Highlights, in-depth news and behind the scenes features will also be part of the Sky service.

Those wanting free coverage will be able to access an extensive range of sports on TVNZ 1 and many of the key events featuring New Zealand athletes.

The service will also include live streaming on TVNZ On Demand.

According to the company, 2.8 million New Zealanders engaged with the 2016 Olympic Games in Rio de Janeiro on Sky and Prime.

It is hoped that this partnership with TVNZ will increase the viewership even further by time of Tokyo 2020. 

This announcement comes two weeks after Sky secured the broadcast rights for the 2022 and 2026 Commonwealth Games.