The event had to be cancelled last year due to poor weather but went ahead as planned on Sunday, albeit in cold conditions.
Organiser Brenda Greaves said: “Interest was high again. There was a mixed age range with people coming from all over the surrounding counties.
“The start was in a different place this year because of the opening of the retail park - at Knipton Big Pasture.
“The ride is 14 miles or so and goes around the castle grounds, Knipton Reservoir, through Branston and we call in at The Wheel Inn.
“I would say in the region of £5,000 has been raised for Macmillan, with more money still to coming in.
“Thank yous must go out to my fellow organiser Christine Griffin - the pair of us have been doing this for years, Their Graces, the Duke and Duchess of Rutland for allowing us their land, and the active stewards volunteering on the day from the Melton Mowbray Macmillan Cancer Support Committee.
A cup for the most sponsorship money raised was presented.