And it's seen the value of the front of the Canberra Raiders jersey return to about $1 million in the process.

Toyota Forklifts have signed on as the Raiders' major sponsor for the next two seasons, taking over after Canberra Milk's one-year stint on the jersey front during their 50^th anniversary.

Canberra Milk will return to the sleeve, while Huawei have ended their decade-long association with the NRL club.

Raiders fans have already had a glimpse of what their new jersey will look like, with Toyota Forklifts appearing on the front of this year's Indigenous and women-in-league jerseys.

It's believed the value of the sponsorship is in the $800,000-$1 million region per season, depending on the club's performances during the 2022-23 campaigns.

The deal was done almost a year ago, with Toyota Forklifts keen to take over from Huawei last year.

But they were happy for the iconic Canberra Milk jersey to make a one-season return while they bided their time.

Raiders chief executive Don Furner was thankful for the "leap of faith" during these economically uncertain times.

"It's a difficult time for a sporting organisation during COVID," he said.

"Sponsorship is not a necessity, it's not an item that companies are thinking about in a tough time like this.

"It's sometimes a luxury for them, but we had unbelievable support from Toyota Material Handlings last year.

"They came onboard our sleeve and agreed this time last year that Milk would come off and they would join us as our major sponsor for 2022 onwards."

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Toyota Forklift, a brand of Toyota Material Handling Australia, hoped to have as lengthy an association with the Green Machine as Huawei did.

Huawei spent nine years on the front of the Raiders' jersey - a record for the Canberra club.

TMHA president and chief executive Steve Takacs hoped they could help "lift" the Raiders over the coming seasons, with a long partnership not his only goal.

He desperately wanted to be part of the Green Machine's fourth premiership.

The Raiders' 2021 NRL campaign effectively ended, barring a miracle, with their loss to the Sydney Roosters on Thursday night.

It's the first time they've missed the finals since 2018 after a mid-season slump ultimately proved costly.

Takacs said the Raiders had reach across all their markets - from Darwin to WA to New Zealand and England.

He said Canberra's traits as a family club and being part of the community was part of their appeal, while inclusion was also a strong driver - which was why they were proud to be involved with the two jerseys this year.

"I've got two main ambitions here and one is absolute longevity - we want to partner with these guys for many, many years to come," Takacs said.

"But the second main ambition is I want to be sitting either on my lounge or in a corporate box watching the Raiders run on and play a grand final with Toyota Forklifts on the front of their jersey."