The event is run annually in mid-December at Sha Tin Racecourse.
The first winner was Flying Dancer, owned by Lim Por Yen and trained by Ping Chee Kan.
The race quickly gained attention and was gradually opened to horses from other countries.
Starting in 1991 other races were added to the program and today horses from all over the world compete in the event.
The Hong Kong Mile had a prize money of HK$30 million in 2022.