Grandouet will not run in the Bathwick Tyres Kingwell Hurdle at Wincanton on Saturday.
Trainer Nicky Henderson said concerns over a setback earlier in the week had dispersed but he does not want to run on very testing ground after an interrupted preparation.
In a statement to Press Association Sport, Henderson said: "The filling in Grandouet's near fore has dispersed as we had hoped with exercise and is now negligible."
He went on: "However, in view of the likelihood of very testing conditions at Wincanton and the fact that his training for this race has obviously been interrupted, we have all decided to forego a prep race and train him at home without a run before the Champion Hurdle.
"If it was the Champion Hurdle this weekend, he would be able to run but we feel under the circumstances a tough race in the ground would not be ideal and, like many of our others - Long Run, Bobs Worth, Simonsig, Rolling Star, Binocular, Riverside Theatre - he will have a racecourse gallop between now and then."
Despite having to miss his weekend engagement, Henderson is upbeat about Grandouet's Cheltenham chance, adding: "He is fit and well and, dare I say, fancied.
"Khyber Kim will be running in the Kingwell after a lengthy absence but he seems in very good order. He will undoubtedly come on for the race but is in great shape."
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