Ngai Tahu will push on with an application to officially add the "h" to Wakatipu.
The iwi will begin to work through the process under the New Zealand Geographic Board in coming months.
Otakou Runaka representative Paulette Tamati-Elliffe, who is working on the name change, said the aim was to have the name recognised by wider New Zealand and restore mana to the original name, which "has always" been Whakatipu Waimaori.
Ngai Tahu dictionary Ka Huru Manu, recognised by the New Zealand Geographic Board, states on its website, "Whakatipu Waimaori is the correct spelling for Lake Wakatipu".
There are four official names in the New Zealand Gazetteer which include "h" in spelling Wakatipu — Te Awa Whakatipu (the Dart River), Tarahaka Whakatipu (Harris Saddle), Whakatipu Ka Tuka (Hollyford River) and Whakatipu Waitai (Lake McKerrow).