First presented in 2003, the Peter Lee Memorial Trophy is presented in memory of the late MG Racer Peter Lee who died at Phillip Island in 1993. It is generously donated by his wife and family.
The Peter Lee Memorial Trophy is awarded to the winning Fast Road MGB, a car in the spirit of those driven by Peter, in the feature race at the Peter Lee Memorial Race Meeting.
Past winners of the Peter Lee Memorial Trophy:

| Year |
Name |
| 2006 |
Peter Rose |
| 2005 |
John Strahan |
| 2004 |
Neil Hopwood |
| 2003 |
Simon McDowell |
|