Trainers Trent Busuttin and Natalie Young are eyeing off their home town Derby with lightly raced three-year-old Persian Empire.

After running second at Moonee Valley earlier this month, Persian Empire is enjoying a short break before being prepared for the New Zealand Derby at Ellerslie on March 3.

Busuttin and Young, who now train at Cranbourne, finished second in this year's New Zealand Derby with Rising Red who split Gingernuts and Jon Snow.

Gingernuts went on to win the Rosehill Guineas and Jon Snow the Australian Derby in Sydney during the autumn carnival.

Busuttin says Persian Empire still has to earn his way into the race.

"He has to step up," Busuttin said.

"He ran well last time at Moonee Valley over 2040 metres but got pipped on the line by an older horse, so he fits the profile.

"He's by Savabeel so will get over a Derby trip and the race is worth a million dollars."

Busuttin said Persian Empire would run over 2040m at Moonee Valley at the start of February.

He said if he could win that race it would all but confirm a start in the Derby for the three-year-old.

Busuttin described Persian Empire and Rising Red Red as similar types.

Rising Red had won over 2100m at Sandown 10 days before contesting the Derby to confirm his spot.

Persian Empire has raced five times, winning a Sale maiden over 1717m and racking up a further three placings.