He said his father, a 12-time Melbourne Cup winning trainer had died peacefully in his sleep surrounded by his family.

Cummings' grandson, James, said the trainer had died with his wife of 61, years, Valmae, by his side. They had celebrated their anniversary on Friday.

Legend of the sport: Trainer Bart Cummings. Credit:Jenny Evans

"For Bart, aged 87, this was a fitting end," James said in a statement. "A husband, father, grandfather and great-grandfather, a master trainer and larger than life figure. We will miss you."

Grandfather and grandson formed a training partnership in 2013 and won their first Group 1 race with Hallowed Crown, which became the first unbeaten winner of the Golden Rose, in 2014. Hallowed Crown also won this year's Randwick Guineas and was sold as a stallion to Darley.

""I got over the thrill of [a group 1 winner] 50 years ago," Cummings said then. "We want to get our next one together now."

He had been hoping to take out another Melbourne Cup this year with the four-time Cup runner Precedence.

Trainer Bart Cummings lifts the Melbourne Cup after Rogan Josh, ridden by John Marshall claimed the 1999 Melbourne Cup. Credit:Reuters

But Cummings had become more fragile in the past 12 months.

In November, it was reported he was admitted to hospital with a chest infection, and since then his health and energy levels had deteriorated.

Bart Cummings with jockey Scobie Breasley and another training great Colin Hayes.

Born James Bartholomew Cummings on November 14, 1927, he began training horses at age 26.

In his illustrious career, he went on to train 12 Melbourne Cup winners, seven more than any other trainer.

His last Melbourne Cup winner was Viewed in 2008, the victory coming on the 50th anniversary of the day when he entered his first Cup runner.

On top of his 12 Melbourne Cups, he won the Golden Slipper Stakes four time, the Caulfield Cup seven times, the Cox Plate on five occasions, the VRC Oakes nine times and the Newmarket Handicap eight times.

Cummings was made a member of the Order of Australia in 1982 for his services to the racing industry.

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His last runner, Sultry Feeling, won at Rosehill Gardens on Saturday.

AAP, Fairfax Media