Lee Freedman has a new job as the director of racing for Sir Peter Vela's Pencarrow Stud in New Zealand.

One of Australia's most successful trainers, Freedman shocked the racing world in August 2011 when he handed over the running of the family stable on the Mornington Peninsular to his brother Anthony.

He made a brief return when he joined Graeme Rogerson in a partnership at Randwick in 2012 before again handing in his licence and returning to Melbourne where he was director of racing for Lloyd Williams until earlier this year.

Freedman will oversee training operations for Pencarrow Stud's racing team at Maungatautari where Julia Ritchie and Steven Ramsay will remain as the stud's resident trainers.

He will divide his time between Australia and New Zealand.

"I'm very excited to take up this new challenge with Pencarrow Racing and the Vela Family," Freedman said.

"I will spend some time in New Zealand each month and am looking forward to working strongly with the team at Maungatautari."

Freedman has trained the winners of 124 Group One races including five Melbourne Cups, four Golden Slippers, four Caulfield Cups and two Cox Plates.

He was inducted into the Australian Racing Hall of Fame in 2003.

Vela has raced horses with Freedman for many years, including 2000 Australasian Oaks winner Grand Echezeaux.

Vela says he is delighted to have his friend join the team.

"Lee is a great friend of mine, but also a master at his trade, and his insight and experience will be invaluable to Pencarrow Racing," he said.