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Joe Pride says Epsom Handicap winner Ceolwulf is still on the improve as he prepares for his next big challenge at Randwick.

Ceolwulf was well beaten by Pride Of Jenni in their only clash to date but trainer Joe Pride is convinced the recent Epsom Handicap winner will run a much better race when they meet again in the King Charles III Stakes at Randwick.

Exciting four-year-old Ceolwulf stormed home to claim his first Group 1 win in the Epsom at Randwick on October 5 and the gelding returns to the scene of that triumph to contest Saturday's $5 million King Charles III Stakes (1600m).

The 12-horse field is headlined by reigning Australian Racehorse of the Year, Pride Of Jenni, and the defending champion Fangirl.

Pride ran Ceolwulf in the Group 1 Queen Elizabeth Stakes (2000m) at Randwick at the end of his autumn campaign in April, and the then three-year-old finished second last as Pride Of Jenni destroyed her rivals in a memorable front-running performance.

The trainer said this week Ceolwulf would be 'a much better horse' this time around compared to when he raced in that Queen Elizabeth Stakes.

"He was backing up off the back of a heavy track and a Derby run, and he was still a colt," Pride said.

"He's a different animal now to work with and he'll run a much better race."

Pride said Ceolwulf had shown he's a lot sharper this campaign with more tactical speed, which the trainer believes he's going to need in Saturday's weight-for-age contest.

"And looking at the race make-up, I think there's some real pressure in this race," Pride said.

"Pride Of Jenni has earned her place as the favourite but I think she's going to have to earn this win.

"If she wins this she can have the champion tag, for mine."

Ceolwulf is on the third line of betting behind Pride Of Jenni and Fangirl and Pride can't fault the way he has come through the Epsom.

"What an exciting horse," Pride said.

"He's quite amazing the way he's been able to absorb pressure and handle his runs. He's an absolute elite athlete and he's still on the improve. I can't wait for Saturday with him. We're really looking forward to it."

Chad Schofield picked up the ride on Ceolwulf in the Epsom and his pre-race confidence was justified when the gelding sprinted down the outside in the straight to win.

He is booked to ride Ceolwulf again on Saturday.

"He did have 54 kilos, but the acceleration he showed me over a mile was that of a horse of the highest quality," Schofield said.

"It's obviously a big step up and he's obviously racing two of the best horses in the country.

"We know Pride Of Jenni's style and we know how good Fangirl's finish is, so he's going to know he's in a race but he's just a tough, good racehorse.

"And I feel like he's getting better as well, if you look at his form and speak to his trainer."