The Victoria Racing Club made the announcement on social media, saying it was "super excited" about Swift's one-off public appearance in Australia following the new album release. "Sorry Taylor, we'll try to calm down," it added.
VRC chief executive Neil Wilson told national broadcaster ABC it was a strategic choice to target a younger demographic.
"We're targeting more and more of the next generation coming through," he said of the event that is so important that race day is a public holiday in the state of Victoria.
Swift's appearance is expected to spark a rush for tickets from music fans as well as the usual Flemington race course punters.
Taylor Swift is heading to Australia to perform at the "race that stops a nation".