Champion jockey Zac Purton is out to defy history from barrier one in the $5 million Caulfield Cup and bring master trainer Chris Waller a third victory in five years.

Purton rides highly-fancied Land Legend in Saturday's 2400m Group 1 test for Waller, who also saddles up $4 favourite Buckaroo and Valiant King ($81) in a three-pronged assault.

Gai Waterhouse and Adrian Bott's Eliyass and Godolphin's Zardozi are also among the top contenders, as is Land Legend despite a historically unfavourable draw.

No horse has won the race from the inside gate since barrier stalls were introduced at Caulfield in 1947.

Adding to Hong Kong-based Purton's challenge, Land Legend tackles the often tricky contours of Caulfield on the five-year-old gelding's first trip to Victoria.

But Purton is confident the son of Galileo is up to the task after claiming the Group 1 The Metropolitan over the same distance at Randwick in his last start two weeks ago, when he survived a protest from another well-fancied Caulfield Cup runner, Zardozi.

"History's there to be broken, so let's do it," Purton said.

"Hopefully he's got a good chance. That's what I'm here for.

"He ran well in the Metrop, he can run the distance, he's drawn well, he can go left-handed.

"I've just got to get him to relax, get him into a nice rhythm and I'm sure he'll be strong late."

Purton accepted the ride on Land Legend on the proviso he could also steer the French import - raced by Hong Kong mega-owner Bon Ho - in the Melbourne Cup if he comes through the important lead-up to Australia's greatest race.

The 41-year-old is searching for his second Caulfield Cup victory, having first won aboard Japanese raider Admire Rakti in 2014.

Waller won previously with Verry Elleegant (2020) and Durston (2022).

Waterhouse, who won in 2010 with Descarado, rates Eliyass her best stayer since 2013 Melbourne Cup winner Fiorente.

Eliyass has won nine of 12 starts, including three out of four in Australia, but has never been past 2000m and fared worst at the barrier draw (21).

Buckaroo won the Group 1 Underwood Stakes at Caulfield last month and drew well in barrier eight, but has never won past 1800m.

Hong Kong-based Italian jockey Andrea Atzeni fancies his chances of his mount Zardozi turning the tables on Land Legend from their close Metropolitan one-two.

Atzeni had no issues getting down to 51kg under the Caulfield Cup's handicap scale, and will have a two-kilogram advantage on Purton.

"She's got a great chance," said Atzeni, who'll jump from gate 12.

"She's in with a light weight, her Metropolitan run was a great run and she looks like she's improved every run.

"On the back of that last run and off the weight you'd think she'd be very, very competitive."