The AJC Queen Elizabeth Stakes is a Group 1 race held under weight for age conditions. Taking place every year at Randwick Racecourse, this event is run over a distance of 2000 metres and worth $500,000 in prize money. The AJC Queen Elizabeth Stakes is held on Sydney Cup Day, one of the biggest dates on the Sydney racing calendar.

The AJC Queen Elizabeth Stakes is held alongside other Group 1 races, such as the Sydney Cup, the AJC Champagne Stakes, and the All Aged Stakes. While it may not be the main event on Sydney Cup Day, it is a great event for gallopers on what is the final day of Sydney autumn racing. Hosted by the Australian Turf Club, this event always attracts a high quality field.

This event has been won by some fine horses over the years, including names like Our Poetic Prince in 1989, Rough Habit in 1992, Durbridge in 1994, Might and Power in 1998, and Lonhro in 2003. Grand Armee, winner of seven Group 1 races, won the AJC Queen Elizabeth Stakes in both 2004 and 2005. In recent years, winners of this event include Sarrera in 2008, Pompeii Ruler in 2009, Road To Rock in 2010, My Kingdom Of Fire in 2011, and More Joyous in 2012.

Runners in the AJC Queen Elizabeth Stakes may come from other middle distance races like the Group 1 Doncaster Handicap at Randwick, the Group 1 Ranvet Stakes, the AJC Derby, and the Rosehill Guineas. These events are a good guide because they are also run over a distance of 2000 metres. Sometimes upsets do occur however, with 2011 winner My Kingdom of Fife coming instead from the 1600 metre Group 3 Doncaster Prelude.

The AJC Queen Elizabeth Stakes has been run since 1851, making it one of the oldest events in Australian racing. Originally a Principal Race held over 24 furlongs, the AJC Queen Elizabeth Stakes was also run over 18 furlongs and 14 furlongs before becoming a 2400 metre event in 1973. This event graduated directly to a Group 1 race in 1980 and has remained that way ever since.