Ruby Walsh will be "very disappointed" if Faugheen does not preserve his flawless record in the StanJames.com Morgiana Hurdle at Punchestown on Sunday.
Unbeaten in 10 starts under Rules, last season's champion hurdler is one of six contenders, including stablemates Nichols Canyon and Wicklow Brave, for the two-mile Grade One.
"Fair to point out Wicklow Brave has a fitness edge, but I think Faugheen is the best hurdler in training..." - Ruby Walsh
Walsh told the Irish Examiner: "He was unbelievable last year, and is in great form for his first start of the season.
"He worked really well on Tuesday morning, we couldn't be happier with him, so fingers crossed things will go to plan.
"I'd say he's definitely more forward going to Punchestown than he was going to Ascot for his first run of last season.
"Wicklow Brave, Nichols Canyon and the other runners have a stone and a half and more to make up on him.
"Fair to point out Wicklow Brave has a fitness edge, but I think Faugheen is the best hurdler in training and will be very disappointed if he doesn't extend his unblemished record."
Mullins' track record in the Morgiana is particularly impressive as the County Carlow handler has won the race for the last four years - three times with the great Hurricane Fly and once with Thousand Stars in 2011.
He, too, is expecting big things from Faugheen, though he also appears keen on Wicklow Brave, who was a fine third on the Flat in the Long Distance Cup at Ascot last month.
The trainer told www.wpmullins.com: "We are expecting him to run very near his rating, even though it is his first run of the season.
"Nichols Canyon is a four-times Grade One winner and could be better than his rating would suggest.
"He would prefer a longer trip, but we expect him to be able to compete at the highest level this season.
"Wicklow Brave likes this track and has improved on the Flat all summer.
"He is really match fit and will run a big race here."