The long wait is almost over for Atlantic Jewel's jockey Michael Rodd.

And it's a wait he has no doubt is worth it as the unbeaten mare prepares for her much-anticipated return as the short-priced favourite in Saturday's Group One Memsie Stakes (1400m) at Caulfield.

Rodd rates Atlantic Jewel the best horse he's ridden and believes if the five-year-old can get "average luck" on Saturday her class can carry her to victory yet again.

"It's first-up at 1400 metres and it's a Group One race. Probably not everyone would think it's an ideal kick-off point but we think she's good enough to take them on and come out a winner," Rodd said.

Atlantic Jewel has won all her seven races but hasn't started since claiming her second Group One in the All Aged Stakes in April last year.

The connections of the Mark Kavanagh-trained mare have taken a patient approach to ensure she has the best chance to return to her best after injury ruled her out of last season.

"It has been a wait but it's very much well worth it. You want to make sure you get it right with a horse like her, and she's definitely worth waiting for," Rodd said.

The Memsie has been reduced to a 13-horse field with New Zealander King Mufhasa to stay home to contest the Group One Makfi Stakes.

The Memsie features eight Group One winners in the remaining 13 including Melbourne Cup winner Green Moon, last season's Sydney three-year-old triple crown winner It's A Dundeel and Australian Cup winner Super Cool.

Atlantic Jewel, who has barrier eight, is the $1.90 favourite in TAB's first market with It's A Dundeel ($6.50), who has drawn the rails, the only other horse under double figures.

Rodd said all indications were that Atlantic Jewel was "back to her old self".

But also a stronger version.

"She's thickened up around the neck and shoulders. She's a stronger horse than last time I rode her (in a race) and that normally transfers to a little bit more horse power," he said.

With an unbeaten horse who has the potential to be a spring carnival star, Rodd said there had been a steady build-up to the mare's return over the past month.

"But now the fields are out and her name is down, it's becoming a reality now," he said.

"I'm sure there'll be a few butterflies in my stomach before the race but once the barriers open I've got a lot of confidence in her and her ability. Once the gates open it's business as usual and I know how good she is."