The aim is to introduce up to 20 new animal species - including kiwi, Duvaucel's gecko and moko skink - to the area by 2018.
Auckland Zoo director Jonathan Wilcken said the project would hopefully raise awareness of conversation and the environment in the region.
"We're aiming to help secure New Zealand's unique biodiversity in a way that's a deliberate departure from what's been done before.
"We will be introducing species at a greatly accelerated rate and including wildlife that wouldn't necessarily have been found on Rotoroa Island before.
"In doing so, we aim to create a diverse and novel ecosystem, and one which will allow us to showcase the sort of interventionist approach to conserving wildlife that New Zealand is increasingly becoming known for around the world."
Students from Auckland's Long Bay College built roost boxes for the reserve.
Mr Wilcken said such community involvement, particularly with schools, was another big aim in that the spotlight on the new reserve would spark interest among the public to become involved.
"It's an inclusive vision of conservation success that focuses on how people and wildlife can benefit each other. We hope to help foster a whole new generation of conservationists."