Announcing the code on Tuesday, Better Regulation Minister Kevin Anderson said it was a "significant turning point" for the sector after ABC program Four Corners in 2015 exposed live baiting on Queensland, NSW and Victoria tracks.

The program showed footage of small animals being tied to mechanical lures where they were chased, caught and savaged by greyhounds.

There was also evidence of dogs being slaughtered and dumped, in an industry tainted by the culling of failed racers, as well as overbreeding.

Former NSW Premier Mike Baird announced in July 2016 the sport would be banned across the state but backflipped three months later.

The code comes into effect on January 1 and outlines standards for keeping, treating and handling the dog breed and for the facilities, equipment and conditions at premises where they are kept or raced.

"NSW will now be leading Australia, if not the world, in providing standards for the protection of greyhounds that reflect public expectations," Mr Anderson said in a statement on Tuesday.

"These include the largest spatial requirements for greyhound housing in the nation.

"In addition to setting out high standards for socialisation, exercise and enrichment, it is also the first code to contain standards that apply to retired greyhounds who remain in the care of industry participants."

Greyhound Breeders Owners and Trainers' Association general manager Steve Noyce said the code sets the industry on a path to securing the long-term faith and support of the wider community.

"Our industry wants to be a world leader in how it treats its greyhound athletes not only during their racing careers, but after they are over. This Code demonstrates that," Mr Noyce said in a statement.

Australian Associated Press