Ali Chaouk claims he was at home having dinner with his family when his rival Mohammad Haddara was gunned down.
It took a decade before Chaouk was convicted of the crime, on the word of his wife's cousin - the man who originally confessed to the shooting.
A jury didn't buy Chaouk's defence at trial in 2018, and now three of the Victoria's top judges have rejected it too.
Mr Haddara, 28, was murdered outside his Altona North home in June 2009 after an argument about a borrowed Mercedes.
There's a long history of animosity between the Chaouk and Haddara families.
Chaouk was jailed for 24 years and must serve 18 before he's eligible for parole.
Ahmed Hablas originally confessed to murdering Mr Haddara but recanted before he went to trial. He was acquitted by a jury in 2011.
Mr Hablas said he had confessed out of fear and later went on to give evidence against Chaouk at his trial.
Chaouk challenged the jury's guilty verdict in Victoria's Court of Appeal, with his lawyers arguing the jury was wrongly told his wife and mother-in-law lied about his alibi.
His barrister Peter Lange argued the jury hadn't been properly directed by the trial judge about what to do if it found Chaouk, his partner and her mother had lied.
But Chaouk's trial lawyers didn't ask for a direction about the alibi evidence and even if one was given it would not have helped his case, crown prosecutor Chris Boyce said.
Justices Geoffrey Priest, David Beach and Stephen McLeish rejected Chaouk's appeal in a judgment handed down on Thursday morning.