The display is part of the New Zealand Deerstalkers Association's national conference, being hosted by the North Otago branch.
The display was particularly appropriate given the town's connection with the herd, one of the conference organisers, Aaron Meikle, said.
Otago's first red deer arrived at Port Chalmers in 1871.
They were transferred on to a paddle steamer and came ashore at Oamaru, where they were loaded on to bullock wagons and taken to both the Lindis Pass and Bushey Park for release.
They formed the basis of the Otago-Southland Westland red deer herd which, in the early 20th century, attracted hunters from Scotland because of the "phenomenal" antlers, Mr Meikle said.
The 15 trophy heads were being collected from throughout New Zealand, with some coming from sports shops and RSAs, which were custodians, as well as family homes.
Some family members were so enthusiastic about the display they were delivering the heads to Oamaru.
The North Otago branch of the New Zealand Deerstalkers Association has a head on display in its clubrooms, entrusted to its care as custodians by the Smedley family.
The deer was shot in 1936 near the Makarora River.
Members of the public were welcome to view the display, for a gold coin donation, at the Opera House on Friday night or on Saturday.
The public was also welcome to attend a function on Friday night, with Ken and Marg Tustin describing the search for the elusive Fiordland moose.
Tickets cost $25.
Kate Wilkinson, the Associate Minister of Conservation, will address the conference at 11.30am on Saturday.
