Australias star juvenile of last season, Phelan Ready was crowned Queenslands Horse of the Year at the states industry racing awards at the Sofitel Hotel on Saturday night.

A winner of the $2 million Conrad Jupiters Magic Millions 2YO Classic in January, Phelan Ready trained on to capture the worlds richest juvenile race - the Group One Golden Slipper Stakes later in the season.

The award was accepted by Lorraine McLachlan, representing the geldings co-trainers during his big wins - son Jason and her husband, the late Bruce McLachlan.

Phelan Ready returned to the track in Sydney on Saturday and ran third against older and more seasoned rivals in the weight-for-age Group Two Premiere Stakes.

The youngster by More Than Ready caught the eye of the McLachlan Place Racing Stables team at the 2008 Magic Millions Yearling Sale and they went to $150,000 to buy him from the draft of Kitchwin Hills.

As it stands his record reads out at two wins at three minor placings from just seven starts. Hes already earned a staggering $3,269,500.

Phelan Ready is the star performer to date from the group winning Blevic mare Nancy Eleanor, a Magic Millions graduate herself from the Adelaide Yearling Sale.

It was great to see Phelan Readys season capped by winning this major honour, Magic Millions Managing Director David Chester said.

He was the real star of the two-year-olds for the season in Australia and this Horse of the Year is truly deserved.

Bruce and Jason McLachlan took out the Jim Atkins Trainer of the Year, an award sponsored by the Magic Millions.

Bruce and Jason did a wonderful job with Phelan Ready in having him in peak condition for Australias two premier juvenile races - the Magic Millions Classic and the Golden Slipper.

And judging by his performance in the Premiere Stakes, where he had little luck and still managed to run third, Im sure Jason and all of his connections will have a lot more fun with him over the coming weeks and months.

Magic Millions graduates Swiss Ace, Chak vedatze and Flying Test were also among the winners of awards on the night.

Another highlight of the evening was the induction of Dalrello into the Queensland Racing Hall of Fame.

Saturday nights Horse of the Year win by Phelan Ready was the third in a week bestowed on a graduate of the Magic Millions Yearling Sales.

Last Sunday the Victorian Racehorse of the Year was captured by Scenic Blast and also during the week Theseo was crowned the Champion NSW Horse of the Year in Sydney.

Magic Millions Media Release