The inaugural running of the Derby was in May 1875, when racing was held at Ellerslie Racecourse for the first time. Just three horses took part, of which one was withdrawn before the start and another failed to complete the course, leaving Toi to finish the race and become the first Derby winner. In 1887 it was renamed the ARC Great Northern Derby Principal race over 12F
The race kept the name, the Great Northern Derby, regularly until 1973 when it was combined with the New Zealand Derby from Riccarton (Christchurch) to form one race, called the New Zealand Derby, which was from then onwards run at Ellerslie. Riccarton was instead given two 1600m races for three-year-olds in place of its Derby, the New Zealand 1000 Guineas and the New Zealand 2000 Guineas.
Only a small number of fillies, including the great Desert Gold, have ever won the Derby against the male horses. Many of New Zealand's most famous racehorses feature on the Derby winners' list, including Kindergarten, Desert Gold, Mainbrace and Gloaming.
