The newly-named 'Rainbow Room' will recognise gay, lesbian and transgender New Zealanders and their contribution to society and Parliament.
Speaker Margaret Wilson said the designation of the Rainbow Room had been supported by members of all parties represented in Parliament.
She said the work of select committees was arguably the most influential and intensive work conducted by MPs.
"It is appropriate that it is with select committee rooms we recognise all members of our society and the paths they have taken to full citizenship with equal rights," Ms Wilson said.
She said the journey to full citizenship was recognised for other New Zealanders with Matangireia (the former Maori Affairs Committee Room); Maui Tikitiki-a-Taranga (the Maori Affairs Committee Room); the Pacific Room; the Suffrage Room and the recently dedicated Asia Room.
"All of these rooms tell the story of honest and full representation in the New Zealand Parliament," Ms Wilson said.
