Odermatt failed in his bid for gold at this month's Games in Italy, taking two silvers and a bronze, but was immediately back on top of a podium that surprisingly did not feature compatriot and triple gold medallist Franjo von Allmen.
Alexis Monney was second, 0.04 slower, and Stefan Rogentin third in warm conditions on the Kandahar piste, with Von Allmen down in sixth place behind Austria's Vincent Kriechmayr and Italian Giovanni Franzoni.
"I was really relaxed and happy to ski today," said Odermatt, now winner of four of seven downhills this season.
"Skiing was more fun again. I like these conditions when the atmosphere is a little bit more relaxed.
"It's a tough downhill, difficult with the snow, and also with the warm temperature. To get the race tension is not easy for me today."
Odermatt increased his advantage in the downhill standings to 175 points over Von Allmen. He is a massive 687 points clear of Norwegian-born Brazilian Lucas Pinheiro Braathen in the overall World Cup.
The men also have a super-G on Sunday.