Two Hats left it until the last metre of Sunday's $125,000 JJ Houlahan Hurdle (3200m) at Ballarat to get his nose in front.
The Aaron Purcell-trained Two Hats ($5) jumped the last hurdle behind but wore down the $1.45 favourite Chequered Flag on the run in to score by a nose with longtime leader Mujadale ($11) three lengths back in third.
Purcell told Racing Victoria the seven-year-old son of Holy Roman Emperor would now be sent to the spelling paddock with the Galleywood Hurdle in May one of the early goals.
"He's been a great horse all year and was second in the National (Hurdle) and it's great to get a big win today," Purcell said.
"On the testing ground today and with a good strong tempo he was the strongest stayer on the day. I knew he'd fight all the way to the line.
"He hasn't been too far off the top so he doesn't have to improve much to win one of the big ones next year."
Two Hats was ridden to victory by Braidon Small, the son of Cyril Small who partnered Vo Rogue to several front running Group I victories during the late 1980s.
"They went really quick early and I planned on being closer but my lad was flat out trying to keep up with them early," Small said.
"I got travelling down the back and got on the back of Johnny Allen (Chequered Flag) at the third last and I thought I was a winning hope,
"Jumping the last Johnny kicked back but my lad dug deep and it wasn't until I got back that I realised that I had won."
