The Might and Power, registered as the Caulfield Stakes is a Melbourne Racing Club Group 1 Thoroughbred horse race run under weight-for-age conditions, for three-year-olds and upwards, run over a distance of 2,000 metres at Caulfield Racecourse, Melbourne, Australia.

The conditions of the race in regard to distance and WFA is similar to the W. S. Cox Plate, held a fortnight after the Caulfield Stakes, and many Cox Plate contenders will use this race as a preparatory race.

During World War II the race was run at Flemington Racecourse.

[3] The 2016 edition of the race attracted only three entries, the smallest ever G1 race in Australia with champion mare Winx scaring off potential rivals.

[4] In 2021 the race was renamed The Might and Power to honour the 1997 Caulfield Cup and Melbourne Cup winner who won this race back in 1998.