Phil Rudd |
Mr Rudd, who was born in Australia, has also been charged with possessing the drugs methamphetamine and cannabis, and of making threats to kill.
The musician's waterfront house in Tauranga, on New Zealand's North Island, was raided on Thursday morning.
AC/DC are due to release a new album later this year.
Mr Rudd, 60, was released on bail after a brief appearance at Tauranga district court.
As part of his bail conditions, he must not have any contact with anyone involved in the alleged murder plot.
Local media reports say that the alleged plot targeted two men. The judge ruled that their names as well as that of the alleged hit-man cannot be revealed.
Mr Rudd will appear in court again on 27 November. He has yet to enter a plea.
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