Presenting Percy came from behind to take victory in the RSA Steeple Chase, after biding its time at the base of the pack.
The heavy favourite, jockeyed by Davy Russell, put on a powerful finish to take a convincing win.
Having won the Pertemps Final 12 months ago, the horse went on to comfortably prove himself much better than a handicapper.
Presenting Percy came from behind to take victory in the RSA Steeple Chase at Cheltenham
Jockey Davy Russell was mobbed upon his impressive run with Presenting Percy
Owner Philip J Reynolds was visibly thrilled to see his horse victorious in the RSA Chase
RSA STEEPLE CHASE
1st - Presenting Percy 5-2 fav
2nd - Monalee 10/3
3rd - Elegant Escape 9/1
4th - Ballyoptic 9/1
Russell, extending his incredible record at the meeting, switched his mount off at the rear of the field and joined in the chase towards the end of the back straight, cruising to victory as a result.
After a courageous start Monalee remained in contention throughout and held on for a second placed finish, though was beaten by seven lengths by the unstoppable Presenting Percy.
It was a disastrous end for Ruby Walsh, who fell at the second last hurdle with Al Boum Photo and had to be helped from the track.
The iconic jockey, who has only recently returned from a broken leg, was then stood down for the day with a suspected similar injury once again.
It was an unfortunate end for Ruby Walsh who fell from Al Boum Photo at the second last fence
Walsh was immediately stood down for the day and hurried off for an X-ray
Medical staff gathered around to assist as Walsh was hurried off for an X-ray following the race.
Walsh and Al Boum Photo's demise allowed Elegant Escape to nip in and take third place.
Winning jockey Russell was full of praise for Presenting Percy following the impressive comeback, telling ITV Racing: 'I have to stop underestimating this horse.
'He seemed unimpressive to me, but what a horse – after three miles, he’s barely out of breath.'
Bonbon Au Miel also fell in the race, though both horse and jockey Paul Townend were unhurt
Horse and jockey mistimed the jump in the latter stages of the race