London - The oil on canvas painting shows Charles' head superimposed onto King Edward VIII's original pre-coronation portrait of 1936 by eminent royal artist Albert Collings.
It was found during emergency maintenance works on Buckingham Palace storage vaults where it had been stashed away on Charles' orders.
A number of embellishments are reported to have been added to the 10ft by 6ft picture including spurious medals, ribbons and bits of sparkly bling.
Palace flunkies refused to confirm or deny that a Hitler-style mustache had also been included in the changes by the anonymous 1980s artist to Charles' podgy face.
The discovery is bound to be a terrible embarrassment for Queen Elizabeth who has fought tooth and nail to destroy all evidence pointing to Adolf Hitler being her birth father.
Some reports blame the picture for Prince Philip's recent heart attack which saw him spend Christmas in a Royal Freak Hospital geriatric ward.
Camilla Fucker-Proles hopes to be sober in time for Burns Night on 25 January this year.