Martin McGuinness has praised Queen Elizabeth saying the British monarch has been a 'staunch supporter' of the Northern Ireland peace process.

The Deputy First Minister will attend a state banquet at Windsor Castle during the first official visit of an Irish president to the UK this week. 

"I think she played a leadership role and is playing a leadership role in the whole context of the need for reconciliation," McGuinness said, The Belfast Telegraph reports.

In a statement McGuinness called the event 'historic' and an 'important part' of the process of 'positive political change' in Northern Ireland.

"I will be doing so as a representative of all of the people of the North, and in the context of conflict resolution and of building reconciliation among the people of Ireland, and between the people of Ireland and the people of Britain.

"I am conscious that this decision is significant and involves political and symbolic challenges for Irish republicans.

"However, my presence alongside Peter Robinson brings an all-island dimension to this historic event which, it is worth noting, has taken all of 93 years to happen.

"There have been huge and positive political changes in recent years. There is now a clear process of transition ongoing within the island of Ireland and between Ireland, including the North, and Britain.

"I firmly believe that my attendance marks another significant step. It is not an end to the process of building a new relationship based upon equality but is important part of that journey."

President Michael D Higgins says he was moved by the Queen's trip to the Republic of Ireland three years ago. 

The Tánaiste Eamon Gilmore says it's a significant development, given the fact that Mr. McGuinness refused to meet with Queen Elizabeth during her state visit to Ireland three years ago.