Steeplechaser King Triton has helped offset the costs of a hectic Australian Racing Hall of Fame induction for Pat Hyland.

The champion jockey turned trainer, Hyland entered the Hall of Fame in a ceremony in Adelaide on Friday night attended by his wife Maree, their children and their partners.

Hyland was one of seven jockeys to win Australia's big four races, the Melbourne and Caulfield Cups, the Cox Plate and Golden Slipper, before forging a successful training career.

"As Maree said the other day, thank god for King Triton," Hyland said.

"He's paid for all the kids for their trip.

"His second the other day covered expenses and she's still got change."

King Triton, part-owned by Maree, runs in the Australian Steeplechase at Sandown on Saturday looking to add to his nine wins from 69 starts and more than $350,000 prize money.

Hyland said it was a great honour to be inducted into the Hall of Fame and to celebrate it with the family.

"The thing is when you're inducted you are in good company," he said.

"You don't get to celebrate those kinds of things too often with the family."

Hyland, who turned 74 last year, still rides King Triton in his trackwork and says the gelding's best attribute is that he never stops trying.

"I ride the little horse every morning because no-one else can ride him," Hyland said.

"I've got him going now and he's like a mechanic.

"He knows to gallop on one track and to trot and canter on others."

King Triton finished third behind Earthbound in a 3300m steeplechase at Sandown last month before running second in the Brierly Steeplechase at Warrnambool behind the Gai Waterhouse Valediction.

Hyland said on both occasions King Triton had lost his position at a vital stage of the race.

"We put winkers on him at Warrnambool and he ran very well but even then he looked like he was going to run fifth or sixth before having a crack after the last fence," Hyland said.

"They sprint away from him, but he keeps trying and that's what you want.