Crowned champion jockey six times, Fallon retired in 2016 after a career littered with big-race victories.
Having made his name in the north riding for Jimmy Fitzgerald and Lynda Ramsden, Fallon moved south to ride as number one jockey to Sir Henry Cecil.
Roles with Sir Michael Stoute and Aidan O'Brien followed and Fallon won almost any race worth winning - although success in the Leger did elude him, twice narrowly missing out with top-class fillies Ramruma and Quiff.
He is now a regular face on British courses once more, as his son Cieren chases the apprentices' title.
Fehily only retired in March, after a stellar career in which he rode over 1,000 National Hunt winners, including the King George VI Chase and Champion Hurdle.
They will be joined by Grand National winner Timmy Murphy, Gold Cup hero Andrew Thornton and former jockey turned award-winning presenter Luke Harvey, who won the Welsh National in his former guise.
Sammy Jo Bell, Brian Harding, Adrian Nicholls, Gary Bardwell, Jamie Mackay, Ollie Pears, Victoria Smith, Charlie Poste, Barry Keniry, Derrick McGaffin and Colin Bolger are also taking part.
Ger Tummelty and Russ Kennemore are on the reserve list in case any of the above drop out.