PNG's police commissioner, David Manning, last week said the warrant was issued for the Ialibu-Pangia MP's arrest in relation to an alleged corruption case.
Subsequently, the court granted an interim injunction on moves to arrest him. Mr O'Neill's legal team claimed he would likely suffer "irreparable damages" caused by a "defective" warrant.
The head of the police fraud squad, Matthew Damaru, said the legal move was similar to when Mr O'Neill's lawyers challenged a previous warrant for his arrest issued in 2014 in a separate corruption case.
