The HF Eclipse Awards are based on the awards in real life, although we have made some adjustments to the system in order to be more efficient in HF. Our awards run on a point system. Points are awarded based on the grade of the stakes race and on the horse's placing (details below). At the end of the year, the top eight horses in each division will be nominated for an Eclipse Award. The public will be allowed to vote on the horse, based not only on points, but on earnings, placings, and the prestige of the races entered.
The Point System:
For ungraded stakes:
     First = 3 points
     Second = 2 points
     Third = 1 point
For grade III/IIIT stakes:
     First = 4 points
     Second = 3 points
     Third = 2 points
     Fourth = 1 point
For grade II/IIT stakes:
     First = 5 points
     Second = 4 points
     Third = 3 points
     Fourth = 1 point
For grade I/IT stakes:
     First = 7 points
     Second = 6 points
     Third = 5 points
     Fourth = 2 points
All HFTRA-approved races that run January through November count toward Eclipse Award points. Voting will generally open the first week in December and run through December 24. Winners will be announced by December 31. Eclipse Awards standings are posted periodically on the HF Forums.
The Real Life Eclipse Awards
The Daily Racing Form (DRF) in 1936 began choosing a horse of the year and the Thoroughbred Racing Associations of North America (TRA) inaugurated its own horse of the year award in 1950. During the 21 years the awards coexisted, the groups differed only four times.
In 1971, the DRF and TRA, together with the National Turf Writers Association, established the Eclipse Awards.
Named for the great English horse who won all 18 of his starts in the 18th century and sired the winners of 344 races, the awards go to the horse of the year as well to the year's outstanding horses in a number of categories, and to the outstanding trainers, jockeys, apprentice jockeys, owners, and breeders of the year.
There was a single award for the year's champion turf horse until 1978, when separate awards for male and female turf horses were established.
The National Thoroughbred Racing Association replaced the TRA as a sponsor in 1998.
From hickocksports.com
For several years the Eclipse Awards were voted on using a three-bloc system. For the 2003 Awards, however, the system was changed. Under the new rules, the three-bloc voting system was replaced with a one vote per person system, where every voter's selection is weighted equally. Ranked their top three selections in each of the 16 voting categories and points are awarded on a 10-5-1 basis. The voting point system determines the three finalists in each category, but the winner is determined by first-place votes only.
An Eclipse Award is awarded to one horse in each of ten divisions, as well as Horse of the Year, owner, breeder, trainer, jockey, and apprentice jockey awards.
Older Male -- A stallion or gelding, four years or older, racing over distances a mile or longer on the dirt
Older Female -- A mare, four years or older, racing over distances a mile or longer on the dirt
Three-Year Old Male -- A colt or gelding, three years old, racing over distances a mile or longer on the dirt
Three-Year Old Female -- A filly, three years old, racing over distances a mile or longer on the dirt
Two-Year Old Colt -- A colt or gelding, two years old, racing on the dirt
Two-Year Old Filly -- A filly, two years old, racing on the dirt
Turf Male -- A colt, stallion, or gelding, racing on the turf
Turf Female -- A filly or mare, racing on the turf
Sprinter -- A colt, stallion, gelding, filly, or mare, three years or older, racing over distances shorter than a mile
Steeplechase -- A stallion, gelding, or mare, three years or older, racing over hurdles
Horse of the Year -- Awarded to the top racer of the year; has always gone to the winner of one of the aforementioned divisions