Kerrin McEvoy will have a record-equalling fourth Melbourne Cup win in his sights when he rides UK stayer Deauville Legend in the $8 million race.

Kerrin Mcevoy will use a template forged out of his most recent Melbourne Cup victory in a quest for a shot at Australian racing history.

One of the world's premier jockeys, McEvoy will chase at record-equalling fourth Melbourne Cup win at Flemington on Tuesday.

And he will do it on one of the shortest-priced favourites of the modern era as English stayer Deauville Legend tries to add his name to the honour roll of international winners of Australia's greatest race.

McEvoy won the Melbourne Cup on Brew in 2000, Almandin in 2016 and Cross Counter in 2018.

He says Deauville Legend reminds him of Cross Counter as a northern hemisphere three-year-old who is on his way through the staying ranks.

"Deauville Legend has got very similar formlines to Cross Counter and he looked the right one for me this year," McEvoy said.

Cross Counter carried 51kg to victory and Deauville has 55kg but McEvoy says there is less depth to this year's race.

"You can argue that the local talent is a little bit thin on the ground compared to other years," he said.

"And the older horse talent out of the UK is probably a little bit thin as well.

"All those things put together had me angle towards Deauville Legend.

"I must admit it's a little bit more weight than is ideal but he's a classy individual."

Deauville Legend held firm as a clear-cut favourite at the Cup eve Call of the Card as a $3.60.

He will be striving to become the first favourite to win since Fiorente saluted almost a decade ago.

Rain is forecast to impact the $8 million race, making it a proper endurance test over the 3200m.

Deauville Legend is one of two overseas-trained runners.

The other is fellow UK stayer Without A Fight who shares the second line of betting with Realm Of Flowers, one of the best-backed runners during the past week.