The eight-year-old will be having his first start for trainer Harry Fry, having previously been with Kerry Lee, for whom he was fourth in the Grade One Melling Chase at Aintree on his latest start in April.
Kylemore Lough now heads the weights after Lee withdrew Top Gamble at the 48-hour declaration stage.
Ian Williams is looking forward to running Ballyalton, who was a winner at the 2016 Cheltenham Festival and shaped well over hurdles on his first run for 18 months at Aintree in October.
Williams tweeted: "Ballyalton has pleased me with his work, schooling and well-being since Aintree and we know he loves Cheltenham."
Paul Nicholls is two-handed with Le Prezien and Romain De Senam as he seeks to land this prize for a third time in six years.
It is 14 years since Fondmort gave Nicky Henderson his sole success and the Seven Barrows handler looks to Days Of Heaven and Theinval to end his drought.
Another trainer with two runners is three-time winner Nigel Twiston-Davies. The Naunton handler has Foxtail Hill and Splash Of Ginge.
The last Irish-trained winner was Edward O'Grady's Tranquil Sea in 2009 and their hopes rest with course scorer Tully East from Alan Fleming's stable and Jim Culloty's Lake Takapuna.
David Pipe struck with Great Endeavour in 2011 and has recent Stratford winner Starchitect running for him this time.
Completing the line-up are Double Treasure, Viconte Du Noyer, Aqua Dude, Bentelimar, Plaisir D'Amour, Guitar Pete and Mystifiable.
Prize gets Greatwood green light
Ian Williams has given London Prize the green light to run in the Unibet Greatwood Hurdle at Cheltenham .
Runner-up in the Cesarewitch on the Flat, he showed his improvement had continued over obstacles by winning the Elite Hurdle at Wincanton on Saturday in clear-cut fashion.
Williams had been weighing up his options, with a big handicap at Ascot also under consideration, but he has decided to strike while the iron is hot.
The in-form handler, who also won the November Handicap at Doncaster with Saunter last weekend, tweeted: "After careful consideration, I've decided that London Prize will run in the @unibet @GreatwoodHorses Hurdle @CheltenhamRaces on Sunday - he's come out of his Wincanton race in great form."
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