The first lady of Australian racing returned to her old "home" on Monday, bigger, stronger and maybe even better than when she left it seven months ago.

Black Caviar used her own twitter account to announce her arrival back at trainer Peter Moody's Caulfield stable after completing her pre-training at Murchison where she has spent a couple of weeks exercising mostly on a water-walker.

Pre-trainer Peter Clarke believes Black Caviar has never been in better condition, according to a Racing Victoria report tweeted by the mare on @blackcaviar2006.

"She's a big, strong girl now, probably bigger and stronger than she's ever been, and I think probably the soundest she's ever been," Clarke said.

"She does have issues, but they are well and truly under control at the moment and as long as they stay that way we'll have the joy of seeing her win more races."

Black Caviar left Caulfield in late May to prepare for her greatest test in the Diamond Jubilee Stakes at Royal Ascot last June and made only a brief return to her training base for a vet check before heading to the bush for a long rest.

The Royal Ascot win was her 22nd from as many starts, 12 of them at Group One level.

As glowing as the report that accompanied her return may have been, trainer Peter Moody, who is inspecting yearlings ahead of the Magic Millions yearling sale on the Gold Coast, has been reluctant to commit to anything with his world champion sprinter.

Moody has maintained he will wait until he gets Black Caviar up to speed and is confident she is sound and happy before she goes to the races.

Should she return to racing as planned, the likelihood is she will be aimed for the race named in her honour, the $500,000 Black Caviar Lightning Stakes - a race she has won for the past two years - at Flemington on February 16.