The death of another horse at a Victorian jumps racing event has sparked protests against the entire sport.

Two horses, End of Time and Hempstead, fell during the latter stages of the Heywood Steeplechase at Casterton on Sunday.

Both jockeys and Hempstead were uninjured, but End of Time had to be euthanised.

Coalition for the Protection of Racehorses (CPR) spokesman Ward Young called on Premier Denis Napthine to step in and ban the sport.

"How can the premier of Victoria allow such archaic animal cruelty, the killing of racehorses for entertainment, when it is so unpopular with the majority of Victoria?" Mr Young said.

He said the group will hold a protest in central Melbourne on Monday.

The two falls have been referred to Racing Victoria's Jumps Review Panel.