Un De Sceaux could make his seasonal reappearance at Thurles in the Horse And Jockey Hotel Hurdle on 22 December.
Rated by some as a dark horse for the Champion Hurdle after his impressive start to life in Ireland, Mullins feels he could be hard to place this season due to his inflated rating.
The five-year-old French import won a maiden hurdle on his debut for Mullins by six lengths and followed up at the Punchestown Festival in a novice event, winning by 13 lengths.
However, he is unlikely to see the racecourse many times as he tends to put everything into his races.
"He was hugely impressive when making all at the Punchestown Festival but is a horse that is very hard on himself in his races," said Mullins.
"I don't want to tax him too much on his first run and he could reappear at Thurles on the Sunday before Christmas.
"He's rated 156 and he'll have to make a major jump in class after that."