Stud plans for dual Doncaster Mile winner Sacred Falls have been shelved in favour of another season of racing.

Widely expected to be retired after finishing runner-up in the $4 million Queen Elizabeth Stakes, Sacred Falls will now return for a spring campaign.

The four-year-old's future was decided after talks between New Zealand's Waikato Stud and Dato Yap, the prominent owner behind the Raffles Thoroughbred Racing Syndicate.

One of New Zealand racing's most successful thoroughbred nurseries, Waikato Stud has increased its stake in Sacred Falls ahead of the entire going back into training with Chris Waller.

"It's fantastic news for the stable," Waller's racing manager Liam Prior said.

"His form this autumn winning his second Doncaster and obviously with a second in the Queen Elizabeth marks him as that weight-for-age horse going forward."

The decision to keep Sacred Falls in work comes as Australian racing has farewelled some of its biggest stars in the past month.

It's A Dundeel, Fiorente and Shamus Award are Australian Group One weight-for-age winners in 2013-2014 who will stand their first season at stud later this year.

Sacred Falls is expected to be set for the Cox Plate in October.

"It's great not just for us but for racing in general ... to have a horse of this calibre to go and race on for another 12 months," Prior said.

Sacred Falls went a year without winning between his Doncaster Mile successes and he led home a Waller-trained first four in last month's race.

He ended the Sydney carnival by taking his career earnings well past $4 million when he tried to chase down It's A Dundeel in the Queen Elizabeth Stakes.

Hong Kong-based jockey Zac Purton, who linked with Sacred Falls for the first time during the autumn, is hoping his association continues next season.

"As a jockey these are the horses that we spend our careers searching for and in Sacred Falls I have found that," he said on Waikato Stud's website.