The world champion streaked down the famous Lauberhorn track, the longest on the World Cup circuit at 4.27 kilometers, to edge out multiple Olympic medalist Aksel Lund Svindal of Norway.
The 30-year-old Feuz was first to ski and clocked two minutes 26.5 seconds on the celebrated course overlooked by Alpine giants the Eiger, the Monch and the Jungfrau.
Svindal, 35, went down third and finished 0.18 seconds back after a cavalier run that had him brushing the safety netting at one stage.
Olympic downhill champion Matthias Mayer of Austria was third in 2:27.16.
The victory was Feuz's sixth World Cup downhill win and ninth in all disciplines.
He won the downhill in Wengen in 2012 and was second in 2015.
Kitzbuhel bound
Former world champion Svindal, one of the most successful speed racers of his generation, has won two downhills this season after missing much of last year recuperating from knee surgery.
The men's speed racers next to head to Kitzbuhel for the season's World Cup downhill highlight on the famed Hahnenkamm mountain.
While Kitzbuhel's Streif piste is renowned for being a steep, icy, bumpy track, it only takes about 1:55 seconds to complete compared to well over two leg-burning minutes on the Wengen course.
Svindal won in Wengen in 2016 and clinched the super-G in Kitzbuhel the following week before a bad crash in the downhill ended his season. Feuz's best finish in the Kitzbuhel downhill was second in 2015.
Feuz's victory cut Svindal's lead in the World Cup downhill standings to 58 points.
The pair will among the favorites for Olympic downhill gold at the Winter Games in South Korea next month.
Svindal won Olympic super-G gold, silver in downhill and bronze in giant slalom at the 2010 Games in Vancouver.
Wengen hosts a men's slalom Sunday.
