The Futurity Stakes is a Group 1 middle-distance race held annually at Caulfield. Run over 1400m under weight-for-age (WFA) conditions, the race boasts a prize pool of $750,000 and is open to horses aged three years and older. With a storied history dating back to its inaugural running in 1898, won by Resolute, the Futurity Stakes has long been a highlight of the Melbourne Autumn Racing Carnival.

Traditionally held two weeks after the CF Orr Stakes, the Futurity Stakes plays an essential role as a lead-up event to the All-Star Mile, granting the winner automatic entry into this major race. Throughout most of its history, the Futurity Stakes has been contested over 1400m, aside from a brief period between 2006 and 2010 when the race was extended to 1600m as part of the Asian Mile Challenge series.

The Blue Diamond Stakes day, which features the Futurity Stakes, is considered the most significant day of the Autumn Carnival for the Melbourne Racing Club. This day showcases three prominent Group 1 races: the Blue Diamond Stakes, the Futurity Stakes, and the Oakleigh Plate, creating a day of exceptional racing at Caulfield that captivates racing enthusiasts. While the Blue Diamond Stakes is the main event, the Futurity Stakes and the Oakleigh Plate serve as major support acts that add depth and excitement to the race card.