Four-time Cox Plate winner Winx headlines the five contenders for the Victorian Racehorse of the Year award for 2018/19.

The Racehorse of the Year will be one of the awards announced at the annual Victorian Racing Awards on Saturday night in Melbourne.

Melbourne Cup winner Cross Counter, Australian Guineas and All-Star Mile winner Mystic Journey, star sprinters Santa Ana Lane and Sunlight, and champion Winx have been revealed as the five finalists in the running to take out the prize.

The award is based on votes from a 50 person panel, comprising members of the racing media, and is judged on performances on Victorian tracks during the season, irrespective of where the horses are trained.

English-trained stayer Cross Counter won the Melbourne Cup in his only appearance in Victoria during the season while Tasmanian filly Mystic Journey won four times in Melbourne during 2018/19 highlighted by her two big wins at Flemington.

Santa Ana Lane took out the Group One VRC Sprint Classic in style during last year's spring carnival at Flemington while Sunlight won five times in Victoria throughout the season including the Coolmore Stud Stakes, Newmarket Handicap and William Reid Stakes.

Winx's two appearances on Victorian tracks were her wins in the Group One Turnbull Stakes at Flemington and her record fourth-straight Cox Plate triumph at The Valley last spring.