The Emmett Mullins-trained 2022 winner is one of an astonishing 26 Irish runners in the 34-strong field, reduced from 40 due to new safety measures brought in after last year's race.
They were introduced after Hill Sixteen fell at the first fence and was put down. The race had been delayed for 15 minutes due to animal rights protestors infiltrating the course.
Protestors have said they will not repeat that this year, which is welcome news for racecourse chiefs, who will be hoping there are no equine casualties to add to the five in the last four editions.
The 34 runners are expected to face testing ground conditions, an extra challenge to the 30 fearsome fences over four miles.
Noble Yeats will be opposed by last year's Scottish-trained winner Corach Rambler, who is a short-priced favourite after an impressive third-placed finish in the Cheltenham Gold Cup last month.
Emmett Mullins has just the one runner but his uncle Willie provides eight as does his great rival
However, his Meetingofthewaters has been heavily backed since running an eye-catching third in his prep race, a handicap chase at Cheltenham.
Age, though, might be against him as the last seven-year-old to win the race was Bogskar in 1940.
Willie Mullins is seeking only his second winner in the world's most famous steeplechase, whereas Elliott has three to his bow.
The leading fancy of his octet is the battle-hardened Delta Work under Jack Kennedy.
He was third behind Noble Yeats and unseated his rider last year.
Elliott and Willie Mullins's fellow Irishman Henry de Bromhead also has his name on the roll of honour, thanks to Minella Times in 2021 in a history-making ride when Rachael Blackmore became the first woman jockey to triumph.
De Bromhead, 51, saddles four runners with his headliner Minella Indo, no relation to the 2021 hero, and to be ridden by Blackmore.
However, Minella Indo is no longer the force he was when he won the 2021 Cheltenham Gold Cup.
'Fairytale winner'
An Irish runner from outside the big three that will go to post well fancied is Vanillier, who came close to giving
In the absence of any runners from the powerhouse duo of
Skelton - son of 2016 Olympic showjumping champion Nick - held up England's end against the usual Irish onslaught at the Cheltenham Festival, especially in the handicaps.
As for a fairytale National winner, Kitty's Light, who squeezed in on Thursday as the last of the 34 runners, could provide that.
His trainer Christian Williams's six-year-old daughter Betsy was diagnosed with leukaemia last year.
Kitty's Light usually comes into top form in the spring, illustrated by winning a trio of major races last year, including the Scottish National and he would be Wales's first National winner since Kirkland in 1905.
