Paul Nicholls’ superstar has an irregular heartbeat and is likely be out until Christmas.
His target had been a repeat win bid in the Newbury feature on November 29.
But Nicholls revealed: “Denman hasn’t been himself and lost weight rapidly, which caused me concern.
“Then we schooled him and he got tired very quickly. That told me he was clearly not right.
“Vets discovered he is suffering from an irregular heartbeat and he is going to Newmarket for further tests.
Nicholls added: “The Hennessy is out of the question. I’m not going to rush him.
“I’d like to think he’ll be ready to run at Christmas.”
Totesport eased Denman from 4-6 favourite out to 11-8 for the 2009 Gold Cup.
Stable companion Kauto Star, runner-up in this year’s race, has been clipped from 9-2 to 100-30.
Denman trounced King Kauto by a huge seven lengths in last season’s Cheltenham thriller.
Jumps fans will be hoping ‘the Tank’ returns fit, well and ready for battle.