Damian Lane will ride in his first Melbourne Cup and one of his rivals will be a jockey he used to cheer home while watching the race on television.

Lane, who hails from Western Australia but has been based in Melbourne in recent years, partners Quest For More in Tuesday's famous race.

"It's obviously what every jockey aspires to do. I'm very privileged to get a ride in the race and hopefully he can run well on Tuesday," Lane said.

Among his opponents will be Damien Oliver, a fellow West Australian, who is chasing a record-equalling fourth Melbourne Cup when he rides The Offer for Gai Waterhouse.

"Obviously I watched the race every year, and often cheered home my idol Damien Oliver," Lane said.

"So to be riding against him all the time now, let alone in a race like this, is a great privilege to be honest."

The 21-year-old Lane's biggest win so far has been the 2014 Group One Sir Rupert Clarke Stakes on Trust In A Gust.