Demonstrative won a 2014 Eclipse Award as the champion steeplechase horse.
Palace Malice captured the Grade 1 Metropolitan Handicap last year, and he was a finalist for the 2014 Eclipse Award for champion older male.
On Sunday, both talented equine athletes will be honored for their accomplishments during a ceremony at the Aiken Thoroughbred Racing Hall of Fame and Museum in Hopelands Gardens.
The event will start at 2 p.m.
Demonstrative will be inducted into the Hall of Fame, while Palace Malice will be recognized as the 2014 Aiken-Trained Horse of the Year.
Palace Malice also was the Aiken-Trained Horse of the Year in 2013 after he won the Grade 1 Belmont Stakes. He also was a finalist for the Eclipse Award for champion 3-year-old male.
He is only the second two-time Aiken-Trained Horse of the Year. The other was Quality Road, who received the accolade in 2009 and 2010.
Demonstrative will be the Hall of Fame's 40th member.
Demonstrative's owner, Jacqueline Ohrstrom, and trainer Richard Valentine are scheduled to attend the ceremony.
Representing Palace Malice will be Dogwood Stable President Cot Campbell, Brad Stauffer of Legacy Stable and Jack Sadler, Dogwood's vice president and director of communications.
Dogwood owns Palace Malice in partnership with Three Chimneys Farm of Kentucky.
Speakers will include Aiken Mayor Fred Cavanaugh and Joe Aulisi of the Hall of Fame and Museum's Advisory Board.
Photos of Demonstrative, a set of his horseshoes and a set of Ohrstrom's racing silks will be on display. There also will be an exhibit of pictures and other memorabilia from Palace Malice's 2014 racing season.
The ceremony, which will take place in the Hall of Fame and Museum's courtyard, is free and open to the public.
Hopelands Gardens is at 135 Dupree Place.
Dede Biles is a general assignment reporter for the Aiken Standard and has been with the newspaper since January 2013. A native of Concord, N.C., she is a graduate of the University of North Carolina at Chapel Hill.