Neptune Collonges made all to win the Argento Chase (Registered As The Cotswold Chase) at Cheltenham.
Partnered by a terriffic Tony McCoy, the pair set out to make all the running and although runner-up Tidal Bay ran on well after the last fence, the result was never in any doubt.
Trained by Paul Nicholls, the winner was backed into 11-2 before the off and was excellent at all of the fences except at the top of the hill.
McCoy said: "He didn't run as badly as the form suggested last time and Paul just told me to go a nice gallop on him as we know he stays well.
"We thought there were a few doubts about Punchestowns and Tidal Bay so the plan was to get them at it.
"He's an older horse who knows his way around and he's just a pleasure to ride."
Nicholls added: "I'm thrilled for the horse. It's been a long road back but he was unlucky in the Hennessy Gold Cup when we thought he would run well and he missed the break last time, but it didn't do him any harm and he had a good run round.
"It's good to see him come back and win a nice race. I told AP to make every post a winning one.
"He's got an entry for the National and an entry for a Gold Cup, but we'll see how he is and have a chat about the future."
Tidal Bay (5-2) was held up with Madison Du Berlais for most of the race. He made some ground running down the hill but the race was all but over by the time he consented to run on.
Tidal Bay's trainer Howard Johnson said: "They didn't go fast enough for him and we might as well go for the Gold Cup, as where else do you go?"
Nicky Henderson, trainer of the well-beaten favourite Punchestowns, added: "Barry (Geraghty) was very pleased with his jumping. He's taken a blow and he does take a massive amount of work to get ready.
"We wanted to come here to get a run into him and we'll press on. I'd love to get another run into him, but where do you go? I'm not sure you'd want to go for the AON Chase at Newbury in a fortnight."
Favourite Punchestowns, sent off at 11-10, was in second for the first half of the race but whilst the winner jumped well, he was sketchy at several of his obstacles.
He pecked at the third last which knocked the wind out of his sails and was looked after by jockey Barry Geraghty up the run-in.
The Tother One, sporting first-time cheek-pieces, was under pressure some way out and was well-beaten after making several jumping mistakes.
William Hill make Neptune Collonges 33-1 for the Gold Cup back at Cheltenham in March, while he is a 25-1 chance for the Grand National at Aintree.
Meanwhile with Sky Bet the winner has been cut into 25/1 from 66s for the Gold Cup, while the runner-up is the same price.
Matt Doyle of Sky Bet said: 'Neptune Collonges has struck a timely blow for the old guard having finished third to Denman in the Gold Cup 1-2-3 for Paul Nicholls three seasons ago.'
