Open to three-year-old horses, it is contested on the dirt track over a distance of seven furlongs.
There is a Lafayette Stakes horse race for three year olds run at six furlongs at in on Evangeline Downs dirt Race Track.
A Listed race from 1983 through 1989, it was elevated to a Grade III event in 1990 then modified to a non-graded status for 2006.
Due to wartime restrictions, the race was hosted by Churchill Downs in 1943 and 1944.
Two horses set new Keeneland course records in winning this race: Mals Boy in 1950 and Loom in 1964.