Penrith has secured its first NRL minor premiership in 17 years after thumping North Queensland 32-12 in Townsville on Friday night.

The club scored its 14th straight win and hasn't lost in close to 100 days, with the match against the Cowboys arguably over in the first 40 minutes.

It's the third time the Panthers have been crowned minor premiers having topped the competition in 1991 and 2003.

The visitors scored three tries in the first 15 minutes – through Brian To'o, Stephen Crichton and Josh Mansour to open up a big lead as the Cowboys struggled to match the NRL's top team on the edges.

NRL Highlights: Cowboys v Panthers - Round 19

But the second half wasn't as consistent with Panthers coach Ivan Cleary declaring his side "had one foot on the plane".

"I was pretty happy with the first half. The second half I think we got distracted, and played that way," Cleary said.

"Obviously very proud of everyone at the club, everyone involved with getting the minor premiership, that's no mean feat."

NRL Presser: Cowboys v Panthers - Round 19 - Ivan Cleary

Cleary said there was a possibility some players will be rested for the last game of the regular season in preparation for week one of the NRL finals.

"From now on in it's all about how we can prepare the best we can to be ready for round one of the finals. We'll have a look this week and see how everyone pulls up and make some decisions."

Viliame Kikau was again a dominant force for Penrith, terrorising the Cowboys' defence at will while racking up six tackle busts, two line breaks, scoring a try and laying on another.

However, the Fijian star was placed on report for a high shot on Valentine Holmes.

The forward has 50 carry-over points already on the season and may miss next week's clash with the Bulldogs if he doesn't escape with a fine.

He should be available for the first home final in Penrith where they will almost certainly meet Parramatta.