Lee Freedman has been lured back to training and will join his brother Anthony in a partnership.

The five-time Melbourne Cup winning trainer said he had missed the lifestyle and had more to offer.

"I'm very excited to be getting back into training. I've spent the best part of three years reorganising my life," Freedman said in a statement.

"I've missed the horses, the people and the great mornings and have unfinished business in the industry.

"I've got a real sense of expectation, am keen, reinvigorated and determined to achieve as much as possible.

"I'm very upbeat to partner Anthony. He's my brother, an excellent horseman and we will carve a new niche in our previous racing history."

Freedman shocked the racing community in August 2011 when he handed the family business over to his brother.

He spent much of 2012 in a partnership with Graeme Rogerson in Sydney and for the past six months has been the director of racing of Peter Vela's New Zealand operation.

The Freedmans, who also have a pre-training property at Mornington, have no plans to return to the days when they ran a team of more than 100 horses.

"We will devote 100 per cent to the small team," Lee Freedman said.

"This is the future in training, not huge factory operations. We won't win premierships but want to deliver the very best results to our clients, old and new, whether it's a maiden or a Melbourne Cup."