The hugely-talented filly enjoyed an eight-length romp in the hands of Ryan Moore to give Ed Dunlop a third win in the race after Lailani (2001) and Ouija Board (2004).
Supplemented for the Irish showpiece after scoring at Epsom where which she was also a late addition to the field, the daughter of Intikhab spread-eagled the field.
Once given the office by Moore, Snow Fairy (7-2) burst clear a furlong and a half out and stamped her authority.
She won as she liked from Godolphin second-string Miss Jean Brodie (33-1) with Lady Lupus (66-1) doing best of Aidan O'Brien's five runners to take third a further three-quarters of a length away.
Epsom runner-up Meeznah, trained by David Lanigan, was fourth while Godolphin's main hope Hibaayeb (100-30 favourite) failed to act on the rain-softened ground and finished last.
Dunlop said: "That was a good performance. It was pretty spectacular really, the way she put the race to bed.
"Ryan said she got bumped at one stage and she'd be better on better ground.
"We were very confident she'd go well on decent ground so I was walking my box a bit today. It was the owner who decided to take the plunge and said go.
"She is stronger than she was at Epsom and she has a huge heart. The Yorkshire Oaks is a possibility now.
"We'd have to start to think of going down a similar road to Ouija Board. I'm reliably informed that once everything is OK, she'll stay in training as a four-year-old."
Snow Fairy has even earned a quote of 20-1 for the Qatar Prix de l'Arc de Triomphe with Ladbrokes.
Moore was completing a 44-1 double after earlier steering Latin Love (9-1) to victory in the Kilboy Estate Stakes for trainer David Wachman.
Moore hit the front a furlong out and grabbed the rail to bring Sue Magnier's filly home by a length and a quarter from Emulous.
"The jockey was good on her, she likes an ease in the ground," said Wachman.
"There's a good programme of fillies' Listed races in Ireland and we'll keep throwing our hat in the ring."
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