
Shankule, whose victory at last year’s Valencia marathon put her third on the world all-time list, timed 2’24:23s on the streets of the Hungarian capital.
Defending champion Gotytom Gebreslase claimed silver, 11s behind, with Morocco’s Fatima Ezzahra Gardadi taking bronze (2:25.17s).
Israel’s Lonah Chemtai Salpeter finished fourth, just ahead of a third Ethiopian, Yalemzerf Yehualaw.
With 10km to run, a lead pack consisting of Kenyan Rosemary Wanjiru, Salpeter and the four Ethiopians, Tsehay Gemechu, Gebreslase, Yehualaw and Shankule broke clear.
Gemechu then fell off the pace allowing her three Ethiopian teammates to go clear, with Wanjiru and Salpeter dropping 10s as the east Africans surged.
The Ethiopian trio’s lead doubled over the next 2km to the 36km mark.
Turning the screw, Shankule was the frontrunner with 5km to go, building up a small lead on Yehalaw and Gebreslase.
A fast-charging Gardadi moved into third as the final 2km loomed and Yehalaw tired.
But there was no such fatigue shown by Shankule, this year’s Boston Marathon runner-up looking strong through to the line.