[2] Sir Hugo was a big, "very-finely made"[3] chestnut horse with a white blaze, bred by his owner Orlando Bridgeman, 3rd Earl of Bradford.

He raced prominently, showing in third place at one stage, before finishing sixth of the fourteen runners behind Bona Vista[13] In the Derby on 1 June at Epsom Sir Hugo started at odds of 40/1 in a field of thirteen with La Fleche, who had won the 1000 Guineas being made the 11/10 favourite.

After several false starts which delayed the race by half an hour,[16] the early running was made by Thessalian and Persistive with Sir Hugo just behind the leaders.

George Barrett, the rider of La Fleche, was criticised for giving the filly too much ground to make up[20] while others drew attention to a collision between St. Angelo and Rueil at Tattenham corner which ended both colts' chances.

He was third choice in the betting behind Orme, who had returned from training problems (he had allegedly been poisoned[24]) to win the Eclipse Stakes and La Fleche, who had won the Oaks two days after her defeat in the Derby.

[27] On 27 September Sir Hugo again challenged La Fleche in the £10,000 Lancashire Plate over one mile at Manchester Racecourse, but was never a threat and finished fifth of the eleven runners[28] At Newmarket on 11 October he produced an excellent performance in defeat in the ten furlong Lowther Stakes, losing by a neck in a "close set-to" with El Diablo, to whom he was conceding fifteen pounds.

[29] In the Limekiln Stakes over one mile at the Newmarket Houghton meeting, Sir Hugo was provided with a pacemaker named Flank March, but the tactic failed as he was well beaten, finishing third to Orme and El Diablo.

[3] At the end of his three-year-old season one commentator pointed out that although Sir Hugo lacked acceleration ("that dash of speed"), he had shown stamina, strength and an "equable temper", making him a good stallion prospect.

[34] Sir Hugo's win prize money of £6,960 in 1892 placed him fourth on the list of highest earners behind La Fleche, Orme and the two-year-old Milford.