Paul Townend rode Galopin Des Champs to victory to give trainer Willie Mullins his third Gold Cup success in five years.
In an eventful race, Ahoy Senor set the pace until getting too close to the sixth fence from home and crumpling on landing.
Townend bided his time and remained patient, tracking the early pace before getting into contention coming down the hill, tailing Protektorat, Bravemansgame and Hewick, who had been left in front.