Damien Oliver has left racing in a blaze of glory with an unforgettable ride on Munhamek to win the race named in his honour.

Producing a retirement ride for the ages, Oliver saved his best for last as he brought Munhamek with a late surge between horses to win the $1.5 million Damien Oliver Gold Rush.

In his final appearance in the saddle, Oliver not only provided Australian racing with a moment that will go down in history, he also delivered for his native Perth crowd at Ascot.

Oliver had set the scene for a remarkable ending to a career that has spanned more than three decades with winning rides in the two races preceding the Gold Rush.

Recognised as Australia's greatest jockey with 129 Group 1 wins, Oliver navigated the Nick Ryan-trained Munhamek from a wide barrier to have his mount worse than midfield on the rail.

But as he has done so many times throughout his decorated career, Oliver found a path to thread his way through the field before an inside split presented at the 100m.

Munhamek did the rest, leaving Oliver to stand high in irons for one final salute for a famous farewell.

"Dreams do come true. That was unbelievable," Oliver said.

"It was death or glory at the top of the straight but I had a bit of confidence in this horse that he can take the gaps when they come.

"Nick Ryan did a terrific job with him. I just had to point him in the right direction.

"When the gaps came he worked his way through and it was a great win. I couldn't think of a better way to finish it off."

Oliver said he would retire a relieved jockey after announcing his decision to quit the saddle at the start of the Victorian spring carnival.

It's been one farewell after another for the 51-year-old as he made it clear he wanted to end his career where it began in 1988 by riding at the Perth summer carnival.

"Attention is not really my area but I understand," he said.

"It's been overwhelming ... the applause and roar I got (from the Ascot crowd) for those last three winners, I'll never forget it."

Oliver exits the racetrack with 3189 victories from 20,329 rides.

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