More than 3000 spectators watched more than 160 entrants from across New Zealand compete at the Isuzu Arena, on State Highway 6 between Wanaka and Hawea.
Club president Lyal Cocks said the Wanaka Rodeo had become "an iconic event" for the town.
Arena director Patrick McCarthy, who has competed at the event since he was 4, said it was "in his blood".
"The Wanaka Rodeo is right up there with the best rodeos have to offer — the grounds are great, the location brings in the crowds, and the prize money is the best or second best in the country," he said.
Animal rights group SAFE condemned the rodeo, calling it "cruelty disguised as entertainment".
SAFE executive director Hans Kriek said the animals became very stressed and could be injured.
Kerrie.Waterworth@odt.co.nz
