More than two decades after Damien Oliver steered a maiden to win the Victoria Derby, he has done it again on Preferment.

The Hall of Fame rider with more than 100 Group One wins to his name, was again dominant on the big stage at Flemington with Preferment's narrow victory his second feature success on Saturday.

And it came after Blake Shinn rode an early double and then Hong Kong-based superstar Joao Moreira showcased his talents.

Moriera won the Group One Coolmore Stud Stakes on Preferment's Chris Waller-trained stablemate Brazen Beau, beating Oliver on Delectation, and then backed it up with victory on Signoff in the Group Three Lexus Stakes in the first half of the card.

Not to be outdone, Oliver notched a Group One on Happy Trails in the Mackinnon Stakes, edging out Moreira on He's Your Man in a photo finish, before he added Preferment's Derby win.

It was Oliver's fifth Victoria Derby success.

His first came in 1992 on Redding who had been the most recent maiden to win the Classic for three-year-olds at Flemington.

"This is one of our greatest days of the year and it's great to get some good rides and still be competitive amongst it," Oliver said.

"We've seen Joao come out and we know what a star he is, but it's nice to be matching it with the world's elite."