For the match, assume that the enchantment on Mjolnir has been altered. Now Ares, who is in possession of the hammer, is fully capable of wielding it and Thor is no longer worthy.
Ares also has a shield and his axe. He is as versatile in the use of the hammer as BRB is with Stormbreaker.
__________________ posted by Badabing
I don't know why some of you are going on about being right and winning. Rob and Impediment were in on this gag because I PMed them. Silent and Rao PMed me and figured I changed the post. I highly doubt anybody thought Quan made the post, but simply played along just for the lulz.
Ares' best bet of winning would be battle field removal. The closest I've seen Thor breaking dimensional barriers was when flew from Asgard to Earth apparently the long way around, which is pretty impressive. It doesn't automatically mean he can come back from any dimension though.
If he goes into a fight with Thor, Thor is still pretty versatile and powerful without the hammer.
If Thor like abilities are stacked upon Ares' own abilities Ares wins. If not, Thor wins.