Who Shot Thebarman's bid for history as the oldest Melbourne Cup winner is over with the nine-year-old withdrawn from the field with an elevated temperature.

Trainer Chris Waller said the gelding had presented with a high temperature on Sunday afternoon.

"It is obviously of great disappointment to the owners, my staff and I, however the welfare of the horse comes first and for that reason he must be scratched from Tuesdays' race," Waller said in a statement.

"Who Shot Thebarman had pleased me in his progress this week and had showed no signs of ill effect following his win in the Moonee Valley Gold Cup."

Who Shot Thebarman has run in three Melbourne Cups with his best finish third in 2014.

There are no emergencies for the Cup with the field now reduced to 23.

Waller will be represented in the Cup by Libran who finished second to Who Shot Thebarman in the recent Moonee Valley Cup.