The Seven Network could be losing the broadcast rights to the Melbourne Cup carnival with reports it is returning to Channel Ten.

The free-to-air broadcast rights of the four-day Melbourne Cup carnival could be returning to their original home at Channel Ten.

Currently broadcast on the Seven Network, the four-day carnival looks set to return to Channel Ten from 2019, Newscorp reported on Friday.

The Melbourne Cup was first televised by Channel Ten in 1978 before the Seven Network took over in 2002.

"The Seven Network has been the Victoria Racing Club's free to air broadcast partner for the Melbourne Cup Carnival since 2002 and this contract remains in place until the end of March 2019. The VRC is in the process of reviewing media rights arrangements for the 2019 Melbourne Cup Carnival and beyond. Details regarding this process remain commercial in confidence," a VRC statement said.