Cherchi died at Canberra Hospital on Wednesday due to injuries he suffered at Canberra's Thoroughbred Park on March 20.

A memorial mass will be held for him at All Saints Catholic Church in Sydney on Monday at 10.30am.

The 23-year-old had been in an induced coma since being taken to hospital after his horse Hasime fell in the class 1 plate (1600 metres), with two other jockeys also coming off their horses in the accident.

Cherchi was treated for more than an hour at the track before ambulance took him to hospital with internal bleeding and brain trauma.

Family and friends from Italy, Europe and Asia rushed Down Under to be by his side.

The two other jockeys - Jeff Penza and Shaun Guymer - were able to walk back to the mounting yard relatively unscathed.

Guymer has since been diagnosed with a small shoulder fracture and ruled out of riding for six weeks.

The NSW Jockeys Association said Cherchi's family had been grateful for all the prayers and messages of support they'd received from around the world.

They'd been offering support for them since the moment Cherchi had the serious fall.

"With deep sadness, the Cherchi family have announced their beloved son Stefano passed away peacefully today," they said on social media.

"The family are very grateful for the love, prayers & messages sent by the racing community across the world."

Cherchi moved to Sydney to ride for Warwick Farm trainer Annabel Neasham at the start of the year.

He'd previously moved to England as a 16-year-old, unable to speak English, and ended up becoming an apprentice for top trainer and fellow Italian Marco Botti.

Special prayers were held for him at a church service at the Sanctuary of Sant'Ignazio da Laconi in Cagliari, the capital of Italian island Sardinia, on the Thursday before Easter hoping for a miracle to help Cherchi recover.

Botti said Cherchi had been like a son to him, with his charm standing out as part of his character.

His career had just started to pick up in Australia having ridden his second winner just days before the fall.

"We were devastated this morning when we heard that Stefano had passed away," Botti told PA.

"It's just devastating news for all of us. We knew it was a bad fall and we knew things didn't look great, but you live in hope and hope for a miracle.

"Hopefully he's going to a better place and we will never forget him - he will always be with us.

"His charm and his way of behaving with people, he was such a nice guy. For me, he was a little bit like a son to be honest.

"When he left for Australia, we had a chat and in a way I was happy he was going to try to have a career there.

"He had a couple of winners recently and things were just picking up and then this happened. Life is tough."

Canberra Racing expressed their gratitude to the medical team that looked after Cherchi - especially the paramedics who first arrived on the scene immediately after his fall.

They will liaise with his family to look at how the club can honour his memory.

"Our hearts are broken for Stefano and the ones that loved him most. He was a highly respected young man with immense talent," Canberra Racing chief executive Darren Pearce said.

"The well wishes and commentary from both sides of the globe speak volumes of his character and popularity within our industry.

"We will be offering support to riders, staff, family and friends in the wake of what is a deeply tragic accident and encourage anyone in need to reach out to us."

Canberra Racing will offer support through their Christian chaplaincy, as well as sports psychologists, while Racing NSW will also offer confidential counselling services.

"The tragic passing of Stefano Cherchi at such a young age is extremely sad and words can't describe the deep sorrow our industry is feeling today," Racing NSW chief executive Peter V'landys said.

"Stefano was extremely popular amongst his peers and it will be hard for them to come to terms with his tragic passing.

"Our thoughts and prayers are with his family and friends and as part of the racing family we will do everything we can to support them in their immense grief."