High Performance Sport New Zealand (HPSNZ) has raised the bar in releasing its strategy through to 2020, targeting 14 medals at the 2016 Rio Olympics and 16 four years later.
New Zealand equalled its best-ever Olympic medal haul with 13 at the London Games this year, the same as at the 1988 Seoul Olympics. The Kiwi Paralympics team collected 17 medals, its best effort in 12 years.
HPSNZ chief executive Alex Baumann says New Zealand's efforts at both Games led to "outstanding results".
"But we need to refine how we operate if we are to continue building on this success and this strategy represents the next step in the evolution of the high performance system," he said.
As well as setting new Olympic targets, HPSNZ's latest strategy sets out investment support priorities.
These include supporting sports and athletes that have medal potential at summer and winter Olympics and Paralympics, and non-Olympic sports that can win world championships.
HPSNZ has targeted at least one medal from the Winter Olympics in Sochi in two years, and two or more in 2018.
Alpine skier Annelise Coberger won New Zealand's only winter Olympics medal when she took silver in the women's slalom at the 1992 Games in Albertville, France.
Paralympics targets include two or more golds from the 2014 winter Games, with between eight and 12 gold medals expected at Rio in 2016.
Baumann said New Zealand's high performance sport system was continuing to evolve. Recent changes included the Government's significant boost in funding in 2010, the formation of HPSNZ in 2011, and greater targeting of resources.
Sports will present their high performance plans to HPSNZ for consideration in November, with the next investment decisions expected in December.