The agreement with the Thalanyji people covers the site located at the Western Australian state government's North Ashburton Strategic Industrial Area located about 12km south of Onslow.
It provides them with major benefits in terms of education, training, employment, business development and financial support.
"We see this agreement with the Thalanyji people as a key building block in forging a long-term and mutually beneficial relationship," Wheatstone general manager Geoff Strong said.
The agreement covers about 500 hectares for the Wheatstone plant site and port facility, plus additional land for the access corridor, accommodation camp, domestic gas pipeline corridor and other project-related requirements.
This allows for up to five LNG trains to be constructed on the Wheatstone plant site with capacity totalling 25 million tonnes per year and a domestic gas plant.
The Australian quoted Thalanyji people deputy chair Rodney Hicks as saying the agreement recognised his people as stakeholders in a project that would deliver huge economic benefits to the region and to the nation.
"It demonstrates the fact that Aboriginal people are willing to embrace development, so long as they are given appropriate recognition and a stake in the developments on their lands."
Meanwhile, the paper quoted a Shell spokeswoman as saying the company was refining its understanding of the Wheatstone development, including the commercial terms under which it would join.
Shell owns part of the Iago field, which along with Chevron's wholly owned Wheatstone field, will feed the first two trains capable of producing a total of 10 million tonnes of LNG per annum at Wheatstone, as well as 50% and 25% stakes in recent exploration wells.
"If Shell and Chevron continue to have a high level of success ... Shell is likely to become more involved in the Onslow development, in direct competition to Pluto," Goldman analyst Aiden Bradley said.
Goldman Sachs said Chevron and Shell had reported eight recent exploration successes and only one known failure, contrasting with Woodside Petroleum's failure to find enough gas to support an expansion of Pluto.