The ratings are compiled under the auspices of The International Federation of Horseracing Authorities (IFHA) by racing officials & handicappers representing the five continents who compile the ranking order by agreeing on the rating for each horse.
In 1985, Germany and Italy joined the system, to be followed by North America (both Canada and the United States) and Japan in the mid 1990s.
The Longines World's Best Racehorse Rankings measure a given horse's peak performance during the year.
In 2023, the Japan Cup in association with Longines was named the World's Best Horse Race.
Frankie Dettori has won the award four times, as he was named the Longines World's Best Jockey in 2015, 2018, 2019, and 2020.