Only four of the cast's nine-strong fellowship will be in Wellington - Elijah Wood, fellow hobbits Dominic Monaghan and Billy Boyd, and Orlando Bloom (Legolas).
Although new mother Cate Blanchett isn't attending, the rest of the Australian contingent - Hugo Weaving, David Wenham and Miranda Otto - will be.
Prime Minister Helen Clark is on the guest list, as are many local invited "A-list" celebrities, including an inevitable array of sports stars - among them Team New Zealand skipper Dean Barker, former hockey player Mandy Smith, rowers Rob and Sonia Waddell, ex-All Black Sean Fitzpatrick, equestrian Mark Todd and golfer Michael Campbell.
Other guests include New Zealand actors Sam Neill, Cliff Curtis, Temuera Morrison, Angela Dotchin, Rebecca Gibney and Australian stars Kerry Armstrong and Toni Collette.
The premiere is being celebrated with a street party organised by the Wellington City Council.
It includes a performance by the original Mutton Birds - the band which provided the theme song to Jackson's last film The Frighteners.
Tomorrow, Jackson, his cast and crew face a day of interviews.
In Auckland, the children's charity Variety is hosting screenings of the film in all 12 cinemas of the Force Entertainment Centre, timed to start after the Wellington premiere.
The organisation has sold 2000 tickets, and hopes to raise $50,000.
Midnight screenings for the film, which is officially released worldwide tomorrow, are heavily booked.
Live webcam outside Embassy Theatre
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