Unbeaten during a champion juvenile season, jockey Kevin Manning had the 11-8 favourite in the perfect position throughout, alongside his market rival Toronado.
Richard Hughes was sending out distress signals on Toronado once Dawn Approach kicked on, however, and it was left to the 150-1 outsider Glory Awaits to chase him home, but he was some five lengths away. Van Der Neer was third.
Paddy Power now make Dawn Approach their 5-2 favourite for the Derby.
The horse is owned by Bolger and Godolphin, who snapped up a share in the colt for an undisclosed fee after he won the Coventry Stakes at Royal Ascot last June.
Sheikh Mohammed, the mastermind behind the Godolphin operation, was making his first trip to the track since the Mahmood Al Zarooni drugs scandal to see Dawn Approach.
He said: “I’m very, very happy to come and see a good horse winning the Guineas and I think he is a great horse.”
Sheikh Mohammed was asked if he had thought about bypassing a trip to Newmarket in light of former Godolphin trainer Al Zarooni’s eight-year ban after admitting administering anabolic steroids to 15 horses in his care.
He said: “I always face a challenge.”
When asked about the British Horseracing Authority investigation into the incident, Sheikh Mohammed replied: “That’s up to them.”
Bolger said: “He was very impressive, we’re very happy with him and he galloped right to the line.
“I don’t know about the Derby, Sheikh Mohammed and myself said we would sleep on it and take it from there. If he wants to go, I’d be very happy to. We have to see how he comes out of this but he’s hardy and I’m sure he’ll be fine.
“I’m sure he can only improve from here.”