Deneriaz beat out five Austrians to claim his first World Cup victory, finishing with a time of 1 minute, 55.95 seconds. Michael Walchhofer of Austria was second in 1:56.17.
The next four finishers - Josef Strobl, Fritz Strobl, Werner Franz and Hannes Trinkl - also were Austrian.
The last downhill winner not from Austria was Kristian Ghedina of Italy here a year ago.
Deneriaz had never reached the podium, finishing fourth twice at Val d'Isere, France, including last week. He is the first Frenchman to win a World Cup downhill since Nicolas Burtin at Norway in 1998. Burtin was seventh Saturday.
Austrian Stephan Eberharter, who won the first three downhills of the season, missed the race with a knee injury suffered in a giant slalom crash at France. He still leads the overall standings.
Daron Rahlves was the top American, finishing 11th. Bode Miller was 19th, five spots behind Marco Sullivan.
Notable deaths of 2014 [PHOTOS]