Magnapal's first Listed win in the Heatherlie Handicap has likely earned the gelding another step up in class.

The Terry and Karina O'Sullivan-trained Magnapal backed up a first-up win in a midweek race at Sandown with victory in Saturday's Heatherlie (1700m) at Caulfield.

The 1-1/4 length win over Iggimacool in the soft conditions has Terry O'Sullivan considering the Naturalism Stakes (2000m) with Magnapal.

"As a bit of a pipedream we put him in the Caulfield Cup," O'Sullivan said.

"He's got a long, long way to go to get to that stage but he's heading in the right direction."

The Naturalism Stakes winner is exempt from the Caulfield Cup ballot.

Magnapal ($11) settled just behind the speed on the fence from a good draw and his jockey Luke Currie tracked the leader Onpicalo who gave a kick in the straight before being overhauled.