Michelle Payne's story to become a movie

Michelle Payne's Melbourne Cup win was the ultimate racing fairytale and now it's being made into a movie.

The jockey made history last year when she became the first woman jockey to win the race.

Australian actress Rachel Griffiths has picked up the rights to the Payne's upcoming book and plans to take it to the big screen.

"I've been looking for that coming of age girls movie that is optimistic and inspiring and speaks to fantastic themes like resilience and endurance and holding your dreams against the odds," she told Sunrise.

Griffiths has been in regular contact with Payne and her brother Stevie, and says Stevie might play himself in the film.