Mugatoo has been promoted to Sydney Cup equal favouritism on the back of his strong win in the Canberra Cup.

The Kris Lees-trained Australian Bloodstock-owned import added Monday's Listed 2000m-race to his two wins at his other two Australian starts.

Starting the $1.90 favourite, Mugatoo wore down Fun Fact and drew away to win by 2-1/2 lengths.

"He is exciting isn't he," winning jockey Kerrin McEvoy said on Sky Thoroughbred Racing.

"He has got a lot of followers already in his short career in Australia and it looked his race.

"We were down with a light weight, drawn inside and normally he is a get-back kind of horse.

"I was worried to be too far back today so I thought I would try and utilise the inside gate to a degree.

"It took him a little while to settle after I did that and I was a bit worried he wasn't in a nice rhythm for him.

"Full credit to the horse. Once he got to the 1400 metres he was in a nice rhythm. He got through the ground well and finished off well."

The gelding joins Monday's Adelaide Cup winner, King Of Leogrance, Master Of Wine and Shared Ambition at $8 in the TAB's market for the Sydney Cup on April 11.

Mugatoo also holds nominations to the Doncaster Mile and Queen Elizabeth Stakes.

Lees' stable representative Lucas Miller said Monday's win should help lift Mugatoo up the rankings to ensure he got into the fields for the better races.

"There are some decisions to make but hopefully this gets his rating up to get him in some nicer races," he said.

"Kris is very good at picking the right races and Luke Murrell and Jamie Lovett (Australian Bloodstock) will have some input."

Earlier in the day, Godolphin's Promotions won the Listed Canberra Guineas (1400m).