The Australian model, whose boyfriend is television presenter James Kerley, said that she was looking forward to judging the Myer Fashions on the Field competition at the Bendigo Cup this week.
Dundovic told the Herald Sun: "I've been to a lot of major race meetings now and I love it."
She also revealed that she will be moving to Sydney to be with Kerley after the racing event finishes. They have been dating for over a year and are currently searching for properties.
Dundovic added: "He went looking [for a house] while I was away and I'll be looking too.
"It's going well. It was our one-year anniversary at the start of this month and we went hot air ballooning over the Yarra."
In the past three weeks, a number of A-list celebrities have been announced as VIPs at this year's Melbourne Cup. Burlesque star Dita Von Teese flew into Australia yesterday, Sex and the City actress Sarah Jessica Parker revealed earlier this year that she was excited about being a guest of the Crown marquee.
Kim Kardashian will also be attending, as will Home and Away and Body of Proof actor Nicholas Bishop, who said that he is "looking forward" to a flutter on the races.
Other famous VIPs include Tour de France winner Cadel Evans, The Farmer Wants a Wife presenter Natalie Gruzlewski, Bondi Vet cast member Dr Chris Brown, model Ashley Hart and Hawthorn footballer Josh Gibson.