The five-year-old won the race 12 months ago by a length and three quarters ahead of the Charlie Hills’ trained Battaash.
Blue Point comes into the race on the back of three victories in Dubai, culminating in the Al Quoz sprint on World Cup night, and will go up against Battaash once again.
And, while Appleby admits Battaash might be the slight favourite, he is confident his horse can do the job.
Appleby said: ‘It is going to be exciting and this is what racing wants.
If Battaash and Blue Point both turn up with their A game, it will be a great race.
‘I know Battaash has taken over as favourite – and justifiably so after his reappearance – but I’m not afraid of taking him on again.
‘It would be great to win back-to-back King’s Stands and as you know he is a horse we have held in high regard since his two-year-old days.
‘He was flawless in Dubai winning his three starts, with the highlight the Al Quoz.
His preparation is going well and we are looking forward to going back to Ascot.’