NSW Labor will become the first Australian political party to disclose political donations as they come in, with a system to be up and running in 2017, NSW Opposition Leader Luke Foley will outline on Sunday.

The major transparency pledge will be made in his first leader's speech to the party's annual conference at Town Hall.

"Disclosure delayed is disclosure denied": Luke Foley. Credit:Joosep Martinson

"A cornerstone of our state's democracy must be timely and transparent disclosure of political donations," said Mr Foley.

"Currently, voters in NSW wait up to 17 months to find out who has donated to which party and how much. Disclosure delayed is disclosure denied."