The Scott Brunton trained gelding is a star back in Tasmania where he has won five stakes races, but a victory in a Listed race at Flemington in March encouraged his trainer to set his sights on the Melbourne Cup Carnival.
A good third and second at his first two runs back from a spell at Caulfield and Moonee Valley had the seven year-old Helike (USA) gelding fit and ready to fire on the big stage.
Ridden forward by Brenton Avdulla, Hellova Street led for home and defied all challengers to win the 1400 metre sprint by the best part of a length.
The victory took his overall record to 14 wins and 12 placings from 32 starts with prizemoney topping $700,000.
"He's a marvellous galloper," said an elated Scott Brunton.
"My father has been here with him all week. His success is a credit to everyone back at home as well, we have a great team and have had a great run with seven winners in the past three days!"
Retained to race by his breeders, Hellova Street is a half-sister to stakes-winner Streetwise Savoire and is from Secret Savings (USA) mare Butter Street, who comes from the family of stakes-winner Kattavia.
Butter Street has a yearling colt by Mawingo (Ger), but was not covered last spring so has no foal this year.
Hellova Street is one of four stakes-winners for Rahy stallion Helike (USA), who died in 2013.