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Sydney will have a new marquee race for fillies and mares this spring.

A $2 million sprint race will be the jewel in the crown for Sydney's fillies and mares this spring as one of several initiatives announced by Racing NSW. 

The 1400m showpiece called 'The Invitation' will be held at Randwick on October 23, a week after the $15 million The Everest. 

It is among a number of initiatives being introduced, along with two new $300,000 races which will be added to The Hunter and The Gong raceday programs. 

The George Main Stakes and Hill Stakes have both attracted a prize money boost and will be worth $1 million apiece, double the purse they carried last year. 

Racing NSW chairman Russell Balding AO said the addition of 'The Invitation' would provide Sydney with a marquee spring race for fillies and mares. 

"The addition of 'The Invitation' and further targeted prize money increases consolidates and capitalises on the development and enhancement of spring racing in Sydney over the past five years," Balding said. 

"The Hill Stakes will be run for the 100th time and it is fitting that this race be commemorated with prize money of $1 million where we are confident of attracting some of the best middle-distance horses in Australia." 

'The Invitation' will be a set weights and penalties race restricted to 12 runners selected by a Racing NSW panel and will be open to fillies and mares from Australia and New Zealand. 

It will give Sydney a $1 million-plus race for eight consecutive weeks and take the Everest carnival prize money total to a record $50 million. 

NSW Racing Minister Kevin Anderson MP welcomed the changes and said it continued a period of growth and popularity for Sydney racing. 

"Its growth is nothing less than extraordinary, however, as this announcement has shown, it's even going to get better," Mr Anderson said.