Taree trainer Bindi Cheers has disappeared after leaving the Hawkesbury races.
The 44-year-old has not been seen since leaving the course on Sunday about 2pm, police say.
Police believe Cheers drove to a service station in the Newcastle suburb of Beresfield towing a horse float and is now on foot.
The horses were found at the petrol station and have been returned to Taree.
A search is underway at Beresfield and police are appealing for help from the public to find Cheers.
Cheers’ two runners in the first race at Hawkesbury, Mister Hootabell and Gumball, finished second last and last respectively.