Harry Bentley will ride Limato in his defence of the July Cup in which he will take on unbeaten colt Caravaggio.

Both are being considered for a trip to Sydney in October for the inaugural $10 million Everest.

Bentley rode the Henry Candy-trained five-year-old when he won the 2016 July Cup but was replaced by Ryan Moore in the Diamond Jubilee Stakes at Royal Ascot in which Limato finished third.

With Moore to ride the Aidan O'Brien-trained Caravaggio in the July Cup at Newmarket on July 15, owner Paul Jacobs has decided to Bentley should renew his partnership with Limato.

"Obviously I am delighted to get back on him as I have ridden him six times before," Bentley said.

"He gave me a fantastic day at Newmarket last year in the July Cup and another great one at Chantilly in the Prix de la Foret. He is the best horse I have ridden."

Chautauqua, three-time winner of the TJ Smith Stakes over the 1200 metres of The Everest at Randwick, is the $4.60 favourite ahead of Caravaggio at $6.

Golden Slipper winner She Will Reign is at $8 with Limato next at $11 with the TAB.