Odermatt dominated in the Swiss Alps as he won the race with almost a second to spare ahead of Henrik Kristoffersen from Norway in front of more than 35,000 home fans.
Odermatt, the reigning World Cup champion and current leader, finished 0.73 seconds ahead of Kristoffersen, with another Swiss, Loic Meillard, grabbing third place, 1.66 seconds behind Odermatt.
"It is just amazing, crazy, I could really enjoy the race today," Odermatt said.
"I knew at the start I had to push because of Henrik. As always, I had to attack the race. I was really good at the top but then two, three, four times, I was really on the limit with the inside skis, and on the edge.
"But I thought ‘I can’t go out now, I have to fight’. If you don't risk you can't win."
The 25-year-old Odermatt now has 1046 points in the World Cup standings, 400 points ahead of Aleksander Aamodt Kilde from Norway.
The World Cup will continue at Adelboden on Sunday with a slalom event.