Damien Oliver has been confirmed as the rider of Irish stayer Mutual Regard in the Melbourne Cup.

Oliver is chasing back-to-back wins in the $6 million race at Flemington on November 4 after winning on Fiorente in 2013.

He has also won the Melbourne Cup on Doriemus (1995) and Media Puzzle (2002).

The champion jockey said he was looking forward to partnering the Johnny Murtagh-trained gelding in the 3200-metre feature and he will ride the stayer in a trackwork gallop this Saturday at Geelong.

Mutual Regard shares the fourth line of Melbourne Cup betting with Cox Plate favourite Fawkner at $14.

Caulfield Cup winner Admire Rakti is the $4 favourite.

Six-year-old Mutual Regard's most recent race was a 1-1/4 length win in The Ebor (2816m) at York in August, which is regarded as England's premier staying handicap race.