The greatest race mare of the Australian turf is about to get cosy with a modern-day glamour boy of the racetrack.

In a match made in horse heaven, three-time Melbourne Cup winner Makybe Diva will be covered by Lonhro, a crowd favourite during a racing career which netted 26 wins and $5.7 million in prizemoney.

The spring love match has been trumpeted by Darley Stud, the home of Lonhro, as a fairytale result for the Australian thoroughbred purist.

Makybe Diva is due to have her fourth foal next month while Lonhro has quickly established himself as one of Australia's leading sires.

"We feel honoured that the Makybe team have selected Lonhro for this iconic mare," Darley's Australian managing director Henry Plumptre said.

"I have tremendous respect for what (Makybe Diva's owners) Tony and Deslee Santic have achieved as breeders.

"I hope this will continue with this very exciting mating of champions."

Makybe Diva has produced two colts and a filly since she was retired from racing in 2005 after winning her third Melbourne Cup.

Her 2007 foal, a colt by English and Irish Derby winner Galileo, was sold as a yearling for $1.5 million.

He has been named Rockstardom and is close to making his race debut for Melbourne trainer Danny O'Brien.

Makybe Diva's Fusaichi Pegasus filly fetched $1.2 million at last year's sales.

A weanling by Encosta De Lago is next in line while her latest foal will be by More Than Ready, the sire of Golden Slipper winners Sebring and Phelan Ready.

While Makybe Diva and Lonhro raced in the same era during the early 2000s, their paths rarely crossed on the track.

In their only clash, Lonhro beat Makybe Diva into sixth place when he overcame a chequered passage to record an off-the-canvas win in the 2004 Australian Cup.

Makybe Diva has been named in the field of 24 for the Greatest Cup Never Run - a dream race to celebrate 150 years of the Melbourne Cup.