Leading Victorian trainer Anthony Freedman will take over the 50-box Flemington stable vacated by mining entrepreneur Nathan Tinkler.
VRC chairman Michael Burn said on Friday Freedman had been the first trainer in line for the lease after Tinkler shut down his Melbourne operation earlier this month.
"There is strong demand for facilities at Flemington and Anthony Freedman's racing stable was at the top of the waiting list," Burn said.
"The Freedman brothers (including then head trainer Lee) first trained at Flemington in 1984, and the VRC is delighted to welcome the return of one of racing's most respected names."
Freedman said he would move his horses into the facility in the new year.
"I am really excited about the prospect of returning to Flemington, where we have enjoyed great success in the past," Freedman said.
"The facilities are world class. I look forward to moving in early January and starting a new phase in my career."
The Flemington training precinct is home to 22 trainers and has capacity for 550 horses.