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In 1936 , the American '' Daily Racing Form '' (DRF) began choosing a Horse of the Year. In 1950 , the Thoroughbred Racing Associations Of North America (TRA) inaugurated its own Horse of the Year award. During the 21 years these two awards coexisted, the groups differed in their selection only four times. Finally, in 1971, the DRF and TRA got together with the National Turf Writers Association and created one set of awards called the Eclipse Awards . The National Thoroughbred Racing Association replaced the TRA as a sponsor in 1998.

Kelso , who placed 4th in the Blood-Horse Magazine ranking of the Top 100 U.S. Thoroughbred Champions Of The 20th Century , won Horse of the Year honors five consecutive years. Omaha is the only Triple Crown winner not to be voted Horse of the Year.