The Phoenix Stakes is an American Thoroughbred horse race held annually at Keeneland Race Course in Lexington, Kentucky. Open to horses age three and older, it is contested on dirt over a distance of six furlongs and currently offers a purse of $250,000. Raced in early October, prior to 1989 it was run during the track's spring meeting. It became a Grade III event in 2000, then was upgraded to Grade II status in 2016. Part of the Breeders' Cup Challenge series, the winner of the Phoenix Stakes automatically qualifies for the Breeders' Cup Sprint.