Two late-season city wins in Adelaide and Melbourne has put Blue Tycoon into contention for the spring carnival racing.

Blue Tycoon was well backed from $3.20 to $2.70 favourite for Saturday's Phil Sly Memorial Plate (1100m) at Caulfield and didn't let his supporters down as he raced to a three-quarters of a length win.

It was the gelding's second win from three starts after scoring in Adelaide last month in his first run since a debut second at Morphettville in November.

"He's only a plain little horse to look at, but he's by Written Tycoon who can really throw winners," co-trainer Tom Dabernig said.

Dabernig said Blue Tycoon, who was bought out of a paddock as a weanling, looked like a sprinter miler.

"I think with the spring not too far away he could be contesting races in the spring," he said.

Giving jockey Michael Walker his first city win since his return from a head injury, Blue Tycoon settled behind the leaders before peeling wide at the home turn.

He sprinted to the front at the 200m and was eased down late.

Preemptive ($21) ran on for second down the outside, a short neck ahead of Gimlet ($5).

Walker, who rode three winners at the provincials this week after making his return last Saturday, was reprimanded for shifting in on stablemate Bringaroo near the 800m.