He was foaled in the United States but was trained in England and Dubai during his racing career, which ran from August 1998 to his retirement following the Breeders' Cup Turf in October 2001.

[3] Fantastic Light's dam, Jood, a daughter of Nijinsky, failed to win a race, but came from a good family, being closely related to Swain.

He started slowly and showed his inexperience ("ran green") before taking the lead in the closing stages and winning by one and three quarter lengths from Sicnee, with the future Diadem Stakes winner, Sampower Star in third.

In August Fantastic Light recorded his first win at Group Two level as he led three furlongs out and ran on to win a strongly contested Great Voltigeur Stakes from Bienamado (Hollywood Turf Cup Stakes, San Juan Capistrano Handicap, Charles Whittingham Memorial Handicap) and the future St Leger winner Mutafaweq.

[13] A month later, he won a third important race by holding off the 1998 Epsom Derby winner High-Rise by three quarters of a length in the Listed Arc Trial at Newbury.

He was then sent to Ascot for the King George VI and Queen Elizabeth Stakes, where he finished second, reversing the Epsom form with Daliapour, but having no chance[18] against the favourite Montjeu.

At Belmont Park in September he started odds-on favourite and won the Man o' War Stakes "comfortably", to record his first Grade I victory.

He then finished to fifth Kalanisi in the Breeders' Cup Turf at Churchill Downs, although in this case he had a legitimate excuse, having been blocked twice when Dettori attempted to find space for a challenge.

In December he was sent to Sha Tin for the Hong Kong Cup and justified favouritism by leading in the straight and staying on strongly to beat Greek Dance and Jim and Tonic.

[24] The win earned Fantastic Light top place in the Emirates World Series, a competition in which points were awarded for performances in a number of international races.

[25] In March he attempted to win a second Sheema Classic and almost succeeded, taking the lead a furlong out, but being caught on the line and beaten a nose by the Japanese outsider Stay Gold.

At the end of May he was sent to Ireland where he won the Tattersalls Gold Cup, taking the lead a furlong from the finish and beating Golden Snake by a neck with Kalanisi third.

[29] Despite this result, Kalanisi was made favourite when the horses met again in the Prince of Wales's Stakes (by this time a Group One race) at Royal Ascot, a contest that was expected to be one of the best of the meeting.

He soon went clear with what The Daily Telegraph described as a "ruthless display of speed",[31] and although Kalanisi attempted to challenge, Fantastic Light stayed on to win "comfortably" by two and a half lengths.

[35] This time Dettori rode Fantastic Light more positively as part of an agreed Godolphin plan,[36] sending him past the Ballydoyle pacemaker to take the lead two furlongs out.

Galileo appeared to gain a slight advantage, but Fantastic Light, stayed on strongly under pressure to regain the lead and win by a head in a "thrilling"[37] contest.

[40][41] For Fantastic Light's final start, he was sent back to America for a second attempt at the Breeders' Cup, held in October 2001 at Belmont Park.

[51] In the 2000 International Classification, Fantastic Light was assessed at 124, placing him fourteenth in the ratings (eighth in Europe), ten pounds below Dubai Millennium.