New Caledonia has accepted a deal from French president Emmanuel Macron which will give an in-principle agreement to form its own independence.

The historic deal that France confirmed with one of its South Pacific overseas territories looked to propose the creation of the "State of New Caledonia".

"A State of New Caledonia within the Republic: it's a bet on trust," Mr Macron posted on X.

The latest accord commits signatories from all parliamentary groups to promote an agreed text before their membership and constituencies for New Caledonia.

Despite this arrangement, there will likely be an extensive debate across New Caledonia and France before the legal adoption of the accord.

Minister for Overseas France, Manuel Valls, was central to just on 10 days of discussions with New Caledonia's elected officials and state representatives.

Mr Valls labelled the deal an "intelligent compromise" that maintains links between France and New Caledonia, but with more of the sovereignty that most on the Pacific island wants.

The accord is a far cry from the wave of unrest which rocked Indigenous Kanaky nationalists on the main island of Grande Terre amid controversial electoral reforms which was set to give French metropolitan nationals residing in New Caledonia equal voting rights in local provincial polls.

Kanaks had blamed France's "colonial strategy" for the division and violence in New Caledonia against deported overseas forces while neutral observers also pointed the finger directly at Mr Macron for botching electoral reforms that triggered the six-month conflict.

The result of 14 people being killed in the violence had estimated to have cost New Caledonia two billion euros ($A3.5 million), shaving 10 per cent of its Gross Domestic Product, according to Mr Valls.

Most Kanaks, who make up about 40 per cent of the territory's population of 270,000, feared that the proposed vote for non-Indigenous French would leave Kanaks in a permanent minority, diluting their influence and crushing their chances of winning independence.

The key parties reached an agreement over the weekend during negotiations in Paris which is set to also give New Caledonians their own nationality.

Reports from news agencies present in Paris said despite areas of convergence between both the supporters and opponents of independence, all sides were forced to make compromises or concessions.

"The time has now come for respect, stability, and the pooling of goodwill to build for a shared future," Mr Macron continued online.

One of the most prominent Kanaky lawmakers in Paris for the talks walked away satisfied with what took place.

The accord will help "us get out of the spiral of violence", Emmanuel Tjibaou remarked.

However, Nicolas Metzdorf, a rival lawmaker in New Caledonia who flew to Paris to keep the Pacific territory still in French hands, said the compromised deal was born out of "demanding dialogue", adding that Caledonian nationality as a "real concession".

Both chambers of France's parliament are to meet later this year to vote on approving the deal, which is then to be submitted to New Caledonians for a referendum in 2026.

But the accord still stops short of full independence which many Kanaks are ultimately seeking.

News agencies have labelled plans for New Caledonia as "a state within a state".

Under the agreement, France would take control of New Caledonia's foreign policy.

But France may put the transfer of additional sovereign powers over defence, currency, security and justice to a public vote in a win from the independence movement.

The deal also calls for an economic and financial recovery pact which would include a renewal of the territory's nickel processing capabilities.

The move towards independence potentially could pave the way for New Caledonia to become a member state of the United Nations, according to French newspaper Le Monde.

Located nearly 17,000km away from Paris, New Caledonia has been governed from Paris since 1853.

Many Kanaks resent France's claim to power over the islands and for most of that time have called for either autonomy or independence.