The star mare shared the top prize with Tasmania's other standout national performer, The Inevitable, in the first dead heat in the awards' 40-year history.

Mystic Journey, trained at Spreyton by Adam Trinder, is only the second horse to take out the coveted prize in consecutive years.

The Inevitable is trained at Seven Mile Beach by Scott Brunton whose family has now supplied the horse of the year four times in the past six years.

Brunton also trained Hellova Street, who won in 2016-17 and 2017-18, while his father David prepared 2015-16 winner Up Cups.

Mystic Journey's season highlight was a win in the group 2 P B Lawrence Stakes at Caulfield. She finished second in the group 1 Makybe Diva Stakes and fifth in three other group 1 races including the Cox Plate.

The Inevitable won three races on the mainland including the $500,000 Silver Eagle at Randwick.

In an exceptional year for Tasmanian horses, the 11 award judges gave Mystic Journey and The Inevitable top billing ahead of weight-for-age triple crown winner Mandela Effect and Hobart Cup winner Toorak Affair.

The three-year-old of the year award went to the Bill Ryan-trained Still A Star who won six of her seven starts including the Tasmanian Guineas, Launceston Guineas, Strutt Stakes and Tasmanian Oaks.

Runner-up was top sprinter Deroche who won five races including the group 3 Vamos Stakes.

The Stuart Gandy-trained Gee Gee Josie was voted top two-year-old. She won the Elwick Stakes and was runner-up to Adelaide filly Jyoti in the Gold Sovereign.

The awards were presented at a dinner in Hobart on Friday night where five Hall of Fame inductions were also announced.

They were former Deloraine trainer Terry Roles, former leading jumps jockey Trevor Jones, former administrator Ross Fouracre, Melbourne Cup winner Sheet Anchor and Launceston Cup winner Anzaas.