Melbourne Cup-winning jockey Larry Olsen will step down from his role as a Queensland-based Sky Racing commentator at the end of the month.

Olsen started broadcasting duties with Sky Racing soon after retiring from the saddle in 1998.

"My contract runs out at the end of next month and at this stage there is no plan to renew it," Olsen said.

Olsen won the 1987 Melbourne Cup on Kensei and the 1988 Golden Slipper on Star Watch during an illustrious career as a jockey which started in 1964.

Sky Channel's Sydney race caller Matthew Hill announced his resignation this week to take up work as sports caller in Melbourne.