There is a new princess of Australian racing with Black Caviar giving birth to a filly in the early hours of Saturday morning.

The filly, who was born in the New South Wales Hunter Valley, has a small white marking on her forehead and has two 'white socks' on her front feet.

"Mum and princess are well," said managing part-owner Neil Werrett.

“She was a champion on the track and she’s proved to be a champion mum with the safe arrival of her first foal overnight.

“We’re incredibly proud that she’s given birth to a filly and equally delighted that both Black Caviar and her foal are healthy and doing well.

“We wish to thank the team that have nurtured her so well throughout her pregnancy and ensured the safe delivery of the filly.

“Black Caviar was the people’s horse and we are looking forward to sharing this filly’s journey with the people of Australia.

“It will be a long and patient road from birth to racetrack so at this time we are revelling in the excitement of being proud parents.”

The filly is by leading sire Exceed And Excel and could fetch millions in the sales ring but is highly unlikely to be offered with the ownership group of Black Caviar indicating they would race her themselves.

Trainer Peter Moody tweeted news of the birth from his personal account at 4.17am.

"Well done big girl," he said.

Black Caviar finished her racing career with 25 wins from 25 starts and was retired following her victory in the Group 1 T.J Smith Stakes at Royal Randwick in April 2013.