Castislav Bracanov, 74 was taken into custody Monday, moments before Prince Charles and his wife Camilla arrived in central Auckland.
Bracanov told journalists after his release on a charge of preparing to commit a crime, that he was carrying a bucket of horse manure when arrested, TVNZ reported.
"There's always next time," he said, adding that he was tired of taxpayers funding visits by the royal family.
In 1994, Bracanov sprayed Prince Charles with air freshener and a year later he sprayed the tires of a car carrying the queen.
While other protesters in the crowd booed the prince, most New Zealanders support the British crown.
A poll published just before the visit found 70 percent of 1,000 New Zealanders surveyed desire to keep the queen as the head of state. Only 19 percent want the country to become an independent republic and 7 percent were unsure.