Charbel made most of the running to land a deserved Grade Two victory in the Tattersalls Ireland Edredon Bleu Chase.
Noel Fehily and his mount moved to the front at the fifth and, despite jumping left on occasion, were always in command as the penalty carried by God's Own proved too much to overcome.
God's Own ran well for second ahead of the staying-on Tea For Two, but this was all about Charbel, who paid a handsome compliment to King George contender Politologue.
"I was really impressed with him, just delighted. I'm sorry David Bass couldn't ride him," said winning trainer Kim Bailey.
"I'm thrilled. I've always wanted to win the Peterborough Chase and it's great to have done it with him.
"No plans, but I think we'll keep him to flat tracks now. I think he's shown today that flat tracks suit him."
Fehily was doubling up after earlier steering Bags Groove to victory in the Highflyer Bloodstock Novices' Chase for trainer Harry Fry.
Bass missed the ride on Charbel after being concussed in a fall from Mon Palois at Wetherby on Saturday, but could return to action next weekend.
Bailey added: "He's fine. He's going to have a concussion test next week and hopefully he'll be back for the weekend."
Sky Bet cut Charbel to 12/1 for the Ryanair Chase, where he could potentially lock horns with Min - winner of the feature race in Ireland on Sunday.
Michael Shinners said: "That was really impressive from Charbel and he looks to be coming into his own now, having just struggled a little last season.
"Don't forget, he was going to give Altior a scare in the Arkle as a novice and his form this year stacks up really well. He must be on the radar, particularly as this race looks the only suitable target for him."
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