Reve De Sivola, ridden by Richard Johnson, won the Long Walk Hurdle at Ascot.
In the absence of the injured Big Buck's, the 9-2 chance raced to victory by 14 lengths ahead of favourite Smad Place and Trustan Times.
Reve De Sivola, trained by Nick Williams, finished second to Big Buck's at Newbury in early December.
Williams said: "It worked out nicely today as he had plenty of space and it was an impressive performance."
Four-time winner Big Buck's is also set to miss the World Hurdle at Cheltenham next March due to a "tiny tear in one of his legs".
"We will go for the World Hurdle," said Williams. "But I always injure horses at Cheltenham.
"It's not my favourite course and he wants heavy ground, but he will have to take his chance."