More than 25,000 fans had gathered at the Moonee Valley Racing Club to watch what was billed as her Melbourne swansong and the six-year-old unbeaten mare did not let them down.
The Peter Moody-trained champion comfortably won the seven-horse race under lights to match galloper Kingston Town's Australian record of 14 Group One victories.
Stablemate Karuta Queen came second.
"It's amazing to be part of not just a wonderful racing story but a (wonderful) sporting story," jockey Luke Nolen was quoted as saying by News Limited Network.
"Thank God she didn't let anyone down tonight."
The prospect of Black Caviar's record 24th win overshadowed the AFL season-opener and the race was telecast live during the halftime break of the Adelaide-Essendon tie.
The long-term future of the mare, which has attracted more than $1 billion in bets, remains undetermined but she is next scheduled to race in the T.J. Smith Stakes at Randwick next month.