Bring on The Everest.

That was the declaration from excited trainer Gary Portelli after Golden Slipper winner She Will Reign made a triumphant return to racing to beat older horses in a thrilling Group One Moir Stakes at Moonee Valley on Friday night.

The three-year-old got well back in the field on a night when on-pace runners had been prominent, but the filly powered home to win by a narrow margin over Adelaide mare Viddora.

Viddora was back in the ruck on the rail coming into the straight before getting clear and also charged to the line to be denied by a short half-head.

Leader Sheidel held third, another three quarters of a length away.

She Will Reign now heads home to Sydney to prepare for the $10 million The Everest (1200m) on October 14 at Randwick.

"Bring on the Everest. Bring it on," Portelli said.

"She's the real deal.

"The question mark was there for us. I didn't know where we stood as far as the pecking order goes.

"We were hoping she was the real deal and she's proven it tonight. That was an amazing run."

Portelli thought the filly had actually been beaten but was thrilled the photo finish went their way for She Will Reign to claim her second Group One win.

"She knows how to win," he said.

Jockey Kerrin McEvoy said it was a top effort from the Golden Slipper winner to get up after not handling the circuit that well in her first Melbourne start.

"She's only really balanced up for that last furlong and got going," he said.

"It was a super effort by a very smart horse."

Viddora was back with She Will Reign early and while McEvoy took the winner around the field, Viddora's jockey Joe Bowditch had to stay closer to the inside and ride for luck.

Viddora angled into the clear halfway up the straight, and Bowditch had thought he had won.

"It was a super run," Bowditch said.

"She just got shuffled back a little bit. There wasn't much I could do about it. It was a pretty rough-run race.

"All she needed was a look at them. I thought she got to the front and I thought she won.

"For me it's probably my biggest disappointment in racing, pulling up thinking I'd won and didn't get the bob."