The Australian Guineas was first run in 1986 (won by True Version) It has been a Group 1 race since 1987. Held on the first day of the two-day VRC Autumn Carnival, the Australian Guineas was originally a Group 3 but was elevated to Group 1 status in only its second year.

The Australian Guineas horse race has a handy purse up for grabs and has in the past been won by plenty of horses that have gone on to have successful careers, including: Mahogany, Miss Finland, Shamrocker, Mosheen and Shamus Award

Notable winners of the Australian Guineas include ZABEEL (1990), outstanding sire of Melbourne Cup winners Might And Power, Jezabeel and Efficient.

TRISCAY (1991) won the Champagne Stakes, Flight Stakes (1990), ATC Oaks and Queensland Oaks (1991): MAHOGANY (1994) won eight Group 1 races including the Victoria Derby (1993), ATC Australian Derby (1994), Linlithgow Stakes (1996) and the Lightning Stakes twice (1995, 97); FLYING SPUR (1996) won the Golden Slipper (1995); PINS (2000) sired 2007 Cox Plate winner El Segundo and Hong Kong star Ambitious Dragon.

APACHE CAT (2006) won the Lightning Stakes (2008), Australia Stakes twice (2008, 09),TJ Smith Stakes, BTC Cup (2008) and was a dual winner of the Doomben 10,000 (2008,09): MISS FINLAND (2007) won the Golden Slipper Stakes, Thousand Guineas and VRC Oaks (2006); and MOSHEEN (2012) followed up her win in the VRC Oaks (2011).