Willis, 37, who is highly regarded by her party, paid tribute to Key and another former prime minister, Bill English.
"Having worked jobs selling clothes, shoes and bagels, I was incredibly fortunate to land a role as a researcher, working with then Opposition education spokesman Bill English. Bill taught me that politics is not about personal ambition, it's about making a difference for people. I look up to Bill not only as a political mentor, but as proof that juggling multiple children is compatible with a successful life in Parliament."
She credited Key's "infectious enthusiasm, respect for all and sheer intelligence" for having a profoundly positive impact on New Zealand.
"My time with Bill and Sir John was the best political apprenticeship I could have hoped for."
However, Willis's links to Parliament go back much further than that, telling the House her great-great-grandfather Archibald Willis was elected MP for Wanganui in 1893, and he had voted to allow women the vote.
"Archie was a member of the Liberal Party whose union with the Reform Party created our modern National Party. That meeting of city and country, taking the best of liberal and conservative philosophy, rejecting the binaries of ideology in favour of problem-solving pragmatism, is a tradition I am proud to represent."
The former Fonterra executive said her desire to better understand business led her to work for the co-operative.
"Fonterra opened my eyes … I saw that New Zealand has so much more to gain from embracing trade than we do from fearing it. We must remain open to the world, its markets and its people."
Willis said being a parent of four young children meant she would never be a "government-knows-best politician because I know just how imperfect family life is".
While she would rather it was National in Government, she was excited to play her part.
She and husband Duncan had taught their children that her political opponents were good people.
"They share a motivation to make this country better but have different ideas about how to achieve it."