Reports the NSW Government will legalise ride-sharing service Uber are premature as no decision has been made, despite a news report to the contrary, Premier Mike Baird says.

Mr Baird said the State Government has been handed recommendations by the Point to Point Taskforce, which was asked to examine ride-sharing services, but that they still needed to go before the Cabinet.

Key points: Media report that Uber will be legalised "jumped the gun", Mike Baird says

Media report that Uber will be legalised "jumped the gun", Mike Baird says Premier says Point to Point Taskforce report needs to go before Cabinet

Premier says Point to Point Taskforce report needs to go before Cabinet Uber says 70 per cent of the market is the domain of taxis

Uber says 70 per cent of the market is the domain of taxis 750,000 people use Uber in NSW

Mr Baird said a report by News Corp, suggesting the Government would legalise Uber from next month and drop the price of taxi plates to compensate drivers, had "jumped the gun".

The article claimed regular taxis would retain the right to "rank and hail" services, but Mr Baird said no decision had been made on this, either.

"That [article] has jumped the gun, no doubt about it," Mr Baird told 2UE.

"The report will go before the Cabinet in due time, and when that happens we'll have more to say about it."

The Premier said his Government had always been committed to creating a level playing field for taxi drivers.

"What you need to understand is the taxi industry is effectively 6,000 small businesses, they have bought into this industry on the basis of significant upfront investment," Mr Baird said.

"So it is a challenge when new technology like this comes along - often many have put their whole life savings into it."

NSW Taxi Council chief executive Roy Wakelin-King said his phone had been ringing off the hook all morning.

"My members are keen to find out what the story is, we're really wanting to see what the detail is here," he said.

He said it costs drivers more than $300,000 to own taxi plates.

An Uber user holds a mobile phone with the app open on the screen. ( Tim Leslie, file photo )

"If there are big changes and those changes have a negative impact on our members - people who have done the right thing over many years and invested in taxi plates – there should be some form of adjustment," he said.

Transport Minister Andrew Constance is overseas, and his staff said no announcement would be made today.

Uber's head of policy, Brad Kitschke, said he was also keen to hear more from the Minister.

"We haven't had any confirmation of the news, but if this is correct I think it's a very sensible move from the NSW Government," he said.

Mr Kitschke said 70 per cent of all taxi rides are people who hail the cab from the street or line up at a taxi rank.

"It recognises that rank-and-hail work is the exclusive purview of the taxi industry, and what that means is there'll always be a viable taxi industry."

"That means that 70 per cent of the market would always be the exclusive domain of taxis.

"So what I would say is the catastrophising that people have been doing is probably a little premature."

He said there are more than 350,000 people using Uber in NSW.