A memorial commemorating 877 Australian jockeys who have died as a result of race falls has been unveiled at Caulfield.

The first memorial was opened in 2005, recording the names of 296 jockeys to lose their lives and its presence created publicity that led to many more riders being identified.

Four Melbourne Cup-winning riders - Horrie Dawes (1894), Roy Reed (1929), Keith Voitre (1935) and Neville Sellwood (1951) - are among the jockeys recognised.

Billy Elliott, who was never beaten on Phar Lap, is listed as well as the fathers of Jim Johnson, John Marshall, Tony Vasil and Damien Oliver.

The memorial was officially opened by Victorian racing minister Martin Pakula and the children of Mark Goring who died in a race fall at Tatura in 2003.