The decision follows the announcement of tough new stage four restrictions to business operations across the state.

In a sigh of relief for those in the industry, the government says thoroughbred, harness and greyhound racing will continue in Victoria under strict biosecurity protocols, with the minimum number of essential participants necessary to undertake the activity safely.

Quizzed by reporters at his daily media conference, Premier Daniel Andrews cited 'animal welfare' as a key factor in the decision to continue racing.

"It continues because obviously it's a very-low risk activity, there are changes though, there will be no owners, there will be no media, there will be only broadcaster and direct participants involved in that activity," Andrews said.

"There are some significant animal welfare issues if you were try to turn that industry off, those animals out of training, there are some significant animal welfare issues there.

"It's a compromise, I am sure some in that industry won't be pleased, it has been scaled back further but we think we have struck the right balance there."

Racing has continued throughout the coronavirus pandemic, but without spectators and under the tightest of protocols.

At least one code - harness racing - has even moved to a restricted 'regional' model of racing, limiting the movement of participants throughout the state.

Limited numbers of thoroughbred horse owners have been permitted at some Victorian tracks in recent weeks, but will again be banned until further notice.

Racing Victoria chief executive Giles Thompson said the industry welcomed the opportunity to keep racing.

"We don't take the right to continue racing during these unprecedented times lightly and are extremely grateful for the opportunity to maintain jobs and continue supporting the 110,000 people who are employed or participating in Victorian thoroughbred racing," he said.

"As we have done throughout the pandemic, we will continue to take decisive action to ensure that we provide the safest environment possible for those participating in Victorian racing, as well as the wider community.

"With immediate effect all owners are banned from attending race meetings in Victoria until otherwise advised, with a return to essential staff and active participants only.

"We have been continually reviewing our biosecurity protocols throughout the pandemic and this will be a key focus again over the coming days to determine what further enhancements can and should be made in light of the current circumstances within Victoria."

Following today's announcement by the Premier, Racing Victoria, Harness Racing Victoria and Greyhound Racing Victoria have moved to remind participants and staff of the need to continue adhering to the current strict protocols in place in all three codes.

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