Trainers Ciaron Maher and David Eustace have been dealt a blow on the eve of the spring carnival with the retirement of top mare Loving Gaby due to a leg issue.

A dual Group One winner, Loving Gaby was being touted as a possible contender for a slot in the $15 million The Everest.

Maher and Eustace issued a statement on Tuesday confirming the mare had presented with heat in a leg, forcing them to abandon spring carnival plans and make the tough decision to call time on her career.

"She has heat and inflammation to her near fore limb, which has forced us to end her preparation prematurely," Maher said.

"The decision has been made to retire her."

Loving Gaby won four of her 13 starts and more than $2.2 million prize money.

Her two biggest wins were at Moonee Valley in last year's Group One Manikato Stakes and the William Reid Stakes in March.