The NSW corruption watchdog has found former Labor MPs Eddie Obeid and Joe Tripodi engaged in corrupt conduct.

The finding by the Independent Commission Against Corruption (ICAC) relates to retail leases at Circular Quay on the Sydney harbour foreshore in which Mr Obeid's family had financial interests.

ICAC also made a finding of corrupt conduct against Steve Dunn, the former deputy chief executive officer and property division head of the Maritime Authority of NSW.

"The commission finds that Mr Obeid misused his position as an MP to make representations to ministers and Mr Dunn on various occasions in relation to the management of retail leases at Circular Quay," the watchdog said in its report released on Thursday.

The representations were made to former Labor minister Carl Scully around 2000, and former ministers Michael Costa and Eric Roozendaal between 2003 and 2006, involving the terms of the leases.

Eddie Obeid has rejected the guilty charges, saying that he will defend himself vigorously against any charges that are brought to court.

"I have had a political witch hunt against myself and my family for the last three years...we are innocent of any of the allegations that ICAC brings up," he told ABC 702 Sydney.