The British eventer has won the Badminton Horse Trials once before, back in 2004 on his horse Tamarillo.
But Fox-Pitt is well-placed for an assault on the podium this time around on Oslo as he is Great Britain's highest-placed competitor after the first day of dressage.
The 44-year-old has accrued 45.8 penalty points to sit just off the podium, the same amount of points that Ireland's Aoife Clark garnered with Master Crusoe.
Just ahead of Fox-Pitt is New Zealand's Andrew Nicholson, currently occupying third on 45.0 points with Avebury.
But leading the way in are the Australians with Christopher Burton and Sam Griffiths currently sitting in first and second place respectively.
Meanwhile, Mary King and Lucy Wiegersma sit joint seventh on Imperial Cavalier and Simon Porloe respectively, with Nicola Wilson and horse Opposition Buzz just outside the top ten in 11th.