The One News poll shows Mr Peters trailing National candidate Simon Bridges by 20 percentage points.
If the poll of 519 people is replicated on election day it will mean NZ First will have to cross the 5 percent threshold if it is to return to Parliament.
Mr Peters was defeated in Tauranga by National MP Bob Clarkson in 2005, by a margin of just 730 votes, but NZ First secured 5.7 percent of the vote nationally, giving it seven MPs.
Tonight's poll puts Mr Bridges on 48 percent support, with Mr Peters languishing on 28 percent.
Labour's Anne Pankhurst takes the third spot with 15 percent support.
The poll also shows party vote support for NZ First at just 6 percent -- down from about 15 percent in 2005.
National's party vote support in the seat was at 55 percent and Labour's at 31 percent.
The poll has a margin of error of 4.3 percent.
