Willie Mullins has not ruled out a clash between Faugheen and Annie Power in the Stan James Champion Hurdle at the Cheltenham Festival.
Faugheen landed the Grade One event in 2015 but was unable to defend his title due to injury, allowing Annie Power to step into the breach and lift the Festival showpiece last year.
The duo are entered for the Champion Hurdle once again, but Faugheen also has the option of the Sun Bets Stayers' Hurdle while Annie Power has an alternative in the OLBG Mares' Hurdle.
Mullins told the Irish Independent: "I don't know, if you had two Champion Hurdle horses what would you do? If you finished second in the Champion Hurdle, would we be thinking to ourselves, we might run the two of them?
"If you're lucky enough to have one Champion Hurdle horse, but then you have two, I don't know. They are both probably getting on in age. If she comes back to herself, lots of people say Faugheen should run in the (Stayers' Hurdle).
"I wonder coming out of Cheltenham if you finished second in the Champion Hurdle and won one of the other races with the other one, would you say, should we have - which would you rather?"
Mullins has also raised the possibility of Yorkhill switching back to hurdles rather than continuing on the chasing route.
The seven-year-old was a three-times Grade One winner over hurdles last term and has won each of his two chasing starts this term, most recently landing a Grade Three heat at Leopardstown last Sunday.
However, Mullins is not certain his future lies over fences.
He said: "When I asked Ruby (Walsh), he said he was happy (with Yorkhill). Looking at him yesterday, should he go back (in trip)? To me he's a Champion Hurdler in time.
"I didn't make up my mind until the last minute (to go chasing). If his jumping doesn't improve up in grade, I could go back hurdling in a flash. I'm surprised I even went novice chasing with him this year."
Watch live coverage of racing from Leopardstown, including the BHP Champion Hurdle, from 1330 on RTÉ2 this Sunday.