The 92-year-old monarch was attending the QIPCO British Champions Day , which was basking in October sunshine.
She presented trophies for a number of races, including that to jockey Oisin Murphy after roaring Lion won the Queen Elizabeth II Stakes Race.
The Queen looked in great spirits as she made her way around the course and was all smiles as she watched the day’s proceedings.
Her attendance at Ascot came less than 24 hours after she was pictured appearing to be shopping for a new hat as she stepped out to go to Bracknell Town Centre.
The monarch looked fresh in an aquamarine coat as she braced the chilly autumn temperatures.
She wore a matching hat that was fashioned with pink roses and she carried a black bag that was held with matching black gloves.
She toured the £240 million makeover of the town centre, which has seen post-war buildings demolished and a social, shopping and cultural destination created.
The Queen toured the shopping centre and popped into the high-street shop Fenwick where a display of multi-coloured hats caught her eye.
In the department store, Angela Basten, occasion hat buyer for Fenwick, showed the Queen some of the creations on offer to customers.
The Queen was beaming in blue as she enjoyed the horse racing at Ascot (Image: John Rainford/WENN)
She pointed out an unusual £895 hat by milliner Rachel Trevor-Morgan, who had also created the hat worn by the Queen for her visit, and another made by Vivien Sheriff from partridge and goose feathers costing £995 that looked like a snug fit.
The Queen was also all smiles on Wednesday as arrived at the Royal Air Force Club to mark its centenary year in Her