Damien Oliver can resume riding trackwork on Saturday week after the Racing Victoria Board approved the disqualified jockey's application for a licence.

The Melbourne Cup-winning hoop has been cleared to return to trackwork on July 13 when his eight-month ban ends.

He must serve a further two month suspension before he can ride in a race.

Racing Victoria chairman of stewards Terry Bailey said Oliver would be able to resume race riding on September 13, leaving him open to ride on Dato Tan Chin Nam Stakes day at Moonee Valley.

Bailey said Oliver could use the two months of trackwork riding to regain his fitness.

"But he's around 61kg and looks as fit as a fiddle," Bailey said.

"He's obviously been looking after himself."

Oliver was banned from riding last November after he pleaded guilty to placing a $10,000 bet on rival horse Miss Octopussy in a race at Moonee Valley in 2010.