Record-breaking steeplechaser Kauto Star is likely to compete in dressage in 2015, but will not take part in the 2016 Rio Olympics.
The 14-year-old, who won the Cheltenham Gold Cup twice and the King George VI Chase a record five times, was retired in late 2012.
He was introduced to dressage as a way of keeping him entertained in his post-racing career.
"He's ready to go whenever it works," rider Laura Collett told BBC Sport.
Kauto Star performed a demonstration routine in front of over 6,000 people at the Olympia Horse of the Year Show on Tuesday.
Collett added: "We threw him in at the deep end really and he got a bit of stage fright, but he's never been in that kind of atmosphere before and it's a huge ask for a horse like that who's used to open spaces."
Kauto Star's owner, Clive Smith, said: "I'm very proud of him and I feel he can do it.
"He won't do any three-day eventing with cross-country and show jumping, but dressage is harmless for him and he's intelligent, so he will learn the steps."
British Olympic Equestrian team performance manager Yogi Breisner said: "He is magnificent and very healthy and fit, but he has done his work and is a superstar who deserves a happy retirement.
"We won't be seeing him in Rio, that's for sure, unless they want a demonstration of what a real racehorse is like."
|Kauto Star's major wins|
|Cheltenham Gold Cup: 2007, 2009|
|King George VI Chase: 2006, 2007, 2008, 2009, 2011|
|Betfair Chase: 2006, 2007, 2009, 2011|