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Defending Cox Plate champion Sir Dragonet has been euthanised after breaking down at The Valley.

Sir Dragonet has been euthanised after breaking down in a track gallop at The Valley in preparation for the Cox Plate. 

The Ciaron Maher and David Eustace-trained galloper was preparing to defend his title in the weight-for-age championship at The Valley next Saturday. 

Sir Dragonet received veterinary care on-course, however the decision was made to humanely euthanise the horse due to the nature of the injury sustained. 

Formerly trained in Ireland, Sir Dragonet came to Australia last spring to win Cox Plate 100 giving Hall of Fame jockey Glen Boss his fourth win in the race and Maher and Eustace their first win in the race. 

Boss was heading to Melbourne at the conclusion of Saturday's meeting at Randwick to isolate ahead of next week's Cox Plate. 

Ciaron Racing Racing issued a statement saying the stable was heartbroken at the loss of Sir Dragonet. 

"In the year that the Dragon has been in our care, he has won our hearts with his exploits both on and off the track," the statement read. 

"Our condolences go out to his owners, connections and all who cared for this wonderful horse. 

"It has left a hole in our hearts but we're forever thankful for our time with him and he will forever remain a Cox Plate champion. 

"Rest easy Dragon."