Attempting to buck the odds, Northerly returned to the track in August 2004. Months of speculation ended when he galloped and then trialled successfully. A crowd of 30,000 descended on Belmont racecourse in Perth to see his return. Carrying 64.5 kilograms, Northerly was fourth most of the way and got to the lead in sight of the winning post, only to be swamped on the line. After he turned in substandard performances in the Underwood and Turnbull Stakes (both of which he had won in previous campaigns), Fred Kersley retired him.