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Last Updated: 15/01/11 5:54pm
Binocular won the williamhill.com Christmas Hurdle at Kempton after an impressive display of jumping.
Nicky Henderson's charge had clearly retained his good health in the three-week wait for the delayed Boxing Day feature as he raced prominently throughout.
Coming down to the last, it was merely a question of how far as he pulled clear of long-time leader Overturn to record an emphatic success.
McCoy said: "He's getting there. His hurdling was pretty accurate off a good gallop on testing ground.
"I still think it's a good bit below his Champion Hurdle performance, but it was an improvement on Newbury (third in Fighting Fifth Hurdle) which is what we wanted.
"He was fresh and buzzy the last day, and any horse that wins a two-mile championship race at Cheltenham must be a good stayer. He travels but he definitely stays, and I didn't want to be too far off Overturn in that ground."
Henderson said: "I thought this could be another day where we still might get beaten as it's a track that favours the speed horses - but to win like that, I'm very impressed.
"We're getting to where we want to be and I think we will stick to the plan and go for the Contenders Hurdle at Sandown next."
Champion Hurdle sponsors go 5/2 from 4/1 about Binocular, as do Sky Bet.
Matt Doyle of Sky Bet said: "The defending Champion Binocular jumped beutifully off a truer pace than in the Fighting Fifth and has silenced any doubters with a top class performance to re-establish his place at the head of the Champion Hurdle market."