In the Epsom Derby, Golden Fleece started the 3/1 favourite in a field of eighteen runners. His task was made slightly easier by the late withdrawal of his main rival in the betting, the Henry Cecil-trained Simply Great. Ridden by Pat Eddery, he was held up in the early stages and was still towards the back of the field on the turn into the straight. He was then switched to the outside and began to make rapid progress. Golden Fleece took the lead a furlong from the finish and pulled away to win by three lengths from the future Doncaster St Leger and Irish St. Leger winner Touching Wood with Silver Hawk third. His winning time of 2:34.27 was the fastest for almost fifty years. After the race, Eddery called Golden Fleece "the best horse I have ever sat on".