Former New South Wales Mining Minister Ian Macdonald is due to face one of the state's biggest political corruption inquiries today, after allegations he was offered millions of dollars in kickbacks when he was in parliament.

With a long-running Independent Commission Against Corruption (ICAC) inquiry into mining tenders in the Bylong Valley in its final week, Ian Macdonald is expected to be asked about hand written notes found in the office of coal company investor Greg Jones.

The inquiry has heard allegations the notes are records of millions of dollars offered to Ian Macdonald as kickbacks for coal mining and forestry projects, and V8 Supercar races, when he was in parliament.

He is also expected to be asked about allegations that the granting of coal exploration licences in the Bylong Valley may have benefited the family of former Labor powerbroker Eddie Obeid.

The ICAC alleges he gave the Obeids inside knowledge that stood the family and various associates in line to profit $100 million dollars.

During his evidence last week, Eddie Obeid denied being in a criminal conspiracy with Ian Macdonald to, 'effect a fraud on the people of New South Wales.'

Ian Macdonald and Greg Jones now live in Hong Kong.

Eddie Obeid's son Edward Junior is also on today witness list.

After this inquiry, known as Operation Jasper, there will be a two-week break, before ICAC Commissioner David Ipp oversees Operation Acacia.

This operation will examine Ian Macdonald's granting of a mining exploration licence to Doyles Creek Pty Ltd after allegedly only extending the tender to one company.

The company was run by former national CFMEU boss and Ian Macdonald's friend, John Maitland.