The Stawell race meeting on Friday has been cancelled because of the Victorian heatwave.

Racing Victoria (RV) said the welfare of horses and jockeys had to come first in the current extreme hot weather.

"This is a decision that has not been made lightly, however, we feel is necessary to ensure the health and welfare of horses, jockeys and everyone involved in conducting the meeting," said RV executive general manager of racing Greg Carpenter.

Friday's forecast maximum temperature for Stawell is 43 degrees, making it the fourth consecutive day in excess of 40 degrees.

RV chief vet Brian Stewart said the expected conditions could potentially be hazardous for horses and jockeys.

"We've been monitoring the conditions at Stawell, particularly during times when the meeting was scheduled to be conducted, and all information suggests the meeting would have occurred at the hottest part of the day," Stewart said.