Vow and Declare has won the 2019 Melbourne Cup.

The richest ever running of the race that stops the nation has handed the connections of the Aussie horse as well as jockey Craig Williams and trainer Danny O'Brien a record $4.4 million payday.

The Flemington crowd were treated to a famous running of the $8 million richest handicap race on turf, where Vow and Declare gave Australia the win it was so desperately needing after a series of foreign raiders.

In a four-way dart to the finish, Master of Reality surged to the lead with 100m to go, but Vow and Declare kicked in the final 50m to win by a nose.

O'Brien and Williams had both never won a Melbourne Cup before – and they finally broke through for the elusive win with the only Aussie bred horse ridden by Aussie jockey.

Jockey Craig Williams was clearly emotional after snapping the streak of foreign horses winning the race.

"I was lucky enough to sit on Vow And Declare," he told Channel 10.

"A credit to Danny O'Brien. Matt has let all the people through social media get involved with the horse's preparation. Ben, I don't want to name everyone in the stable but with all their hard work, we love this horse.

"Thank you very much guys. It was a privilege to ride him today. We had a difficult barrier draw. The instructions, we trusted him. We know what we can do. Great to be associated with a great horse like this horse."

First VOW AND DECLARE (AUS) - Jockey:Craig Williams, Trainer:Danny O'Brien

Second PRINCE OF ARRAN (GB) - Jockey:Michael Walker, Trainer:Charlie Fellowes

Third IL PARADISO (USA) - Jockey:Wayne Lordan, Trainer:Aidan O'Brien

Fourth MASTER OF REALITY (IRE) – Jockey:Frankie Dettori, Trainer:Joseph O'Brien

The rest of the results are as follows:

5. 18. SURPRISE BABY (NZ) - Jockey: Jordan Childs, Trainer: Paul Preusker
   6. 2. MER DE GLACE (JPN) - Jockey: Damian Lane, Trainer: Hisashi Shimizu
   7. 11. FINCHE (GB) - Jockey: Kerrin McEvoy, Trainer: Chris Waller
   8. 1. CROSS COUNTER (GB) - Jockey: James Doyle, Trainer: Charlie Appleby
   9. 21. STEEL PRINCE (IRE) - Jockey: Brett Prebble, Trainer: Anthony Freedman
   10. 15. MAGIC WAND (IRE) - Jockey: Ryan Moore, Trainer: Aidan O'Brien
   11. 10. TWILIGHT PAYMENT (IRE) - Jockey: Hugh Bowman, Trainer: Joseph O'Brien
   12. 17. SOUND (GER) - Jockey: James Winks, Trainer: Michael Moroney
   13. 19. CONSTANTINOPLE (IRE) - Jockey: Joao Moreira, Trainer: David Hayes, Ben Hayes and Tom Dabernig
   14.4. MIRAGE DANCER (GB) - Jockey: Ben Melham, Trainer: Trent Busuttin and Natalie Young
   15.6. HUNTING HORN (IRE) - Jockey: Seamie Heffernan, Trainer: Aidan O'Brien
   16.13. RAYMOND TUSK (IRE) - Jockey: Jamie Spencer, Trainer: Richard Hannon
   17. 22. THE CHOSEN ONE (NZ) - Jockey: Tim Clark, Trainer: Murray Baker and Andrew Forsman
   18. 7. LATROBE (IRE) – Jockey: James McDonald, Trainer: Joseph O'Brien
   19. 5. SOUTHERN FRANCE (IRE) - Jockey: Mark Zahra, Trainer: Ciaron Maher and David Eustace
   20. 24. YOUNGSTAR (AUS) - Jockey: Tommy Berry, Trainer: Chris Waller
   21. 16. NEUFBOSC (FR) - Jockey: Luke Nolen, Trainer: David Hayes, Ben Hayes and Tom Dabernig
   22. 14. DOWNDRAFT (IRE) - Jockey: John Allen, Trainer: Joseph O'Brien
   23. 8. MUSTAJEER (GB) - Jockey: Damien Oliver, Trainer:Kris Lees
   24. 9. ROSTROPOVICH (IRE) - Jockey: Dwayne Dunn, Trainer: David Hayes, Ben Hayes and Tom Dabernig