Network Ten will broadcast the Melbourne Cup carnival from next year in a five-year $100 million agreement with the Victoria Racing Club.

Network Ten has won the broadcast rights to the Melbourne Cup carnival from next year in a $100 million deal with the Victoria Racing Club.

The five-year agreement entitles Network Ten to broadcast live the four days of the Melbourne Cup Carnival.

The race days are Victoria Derby Day, Melbourne Cup day, VRC Oaks day and Stakes day.

The Seven Network still has the rights for this year.

The new agreement between Network Ten and the VRC confiemed on Monday comprises a suite of Melbourne Cup Carnival media rights, including free to air TV, internet, social media, mobile, OTT (Over-The-Top) and HbbTV (Hybrid Broadcast Broadband TV) within Australia.

Network Ten has also agreed terms with Racing.com to provide live coverage of all races across the Melbourne Cup Carnival on its channels and the Racing.com app but live vision streaming rights for wagering service providers are excluded from the deal with Network Ten

"We are extremely excited that the Melbourne Cup Carnival is coming home to Network Ten," Network Ten chief executive Paul Anderson said in a joint statement with the VRC.

"Our network has a rich history with this world-class event having been the broadcaster of the race that stops a nation for over two decades. The Melbourne Cup Carnival is one of the most prestigious horseracing events in the world, and Cup Day is iconic, not just in the sporting calendar, but for all Australians.

Network Ten previously held the broadcast rights from 1978 until 2001.

"This is transformational for us and for the racing industry," VRC chairman Amanda Elliott said.

"Through this partnership with Ten, the VRC's diverse range of content, including world-class racing, the vibrancy of the Birdcage, Myer Fashions on the Field, the colour and entertainment in The Park and all facets of our new world-class Club Stand will be leveraged via a whole of network approach throughout the year".

The Seven Network will remain the VRC's broadcast partner for the 2018 Melbourne Cup Carnival and Elliott acknowledged the strong and lengthy partnership with the network.

"While we are excited about this new stage for the Club, our heartfelt thanks go to the Seven Network, a valued and close Cup Week partner of ours for 16 years," she said.

Outside the Melbourne Cup Carnival, Group One racing from Flemington will continue on the Seven Network until at least the end of June 2020.