Background: Refaunation by large ungulates represents a cost-efficient approach to managing natural biotopes. We studied butterflies inhabiting grasslands of the former Milovice military training range in the Czech Republic, grazed since 2015 by a combination of Exmoor pony (“wild” horse), Tauros cattle (“aurochs”) and European wisent. Methods: We compared presence-absence patterns from two surveys preceding the refaunation, one immediately after military use termination (early 1990s), the other prior to the refaunation (2009), with the current (2016–19) results of monitoring 8 grazed and 8 ungrazed plots. We analysed the life history, climatic and conservation-related traits of recorded butterflies to gain insights into the ungulates’ impacts. Results: Following the termination of military use, several poorly mobile species displaying broad oceanity niches were lost. Newly gained species are more mobile and prefer warmer continental conditions. Currently, numbers of butterfly species do not differ between refaunated and neglected plots, but the former hosted higher abundances. Butterflies developing on coarse grasses and shrubs inclined towards neglected plots, whereas refaunated plots supported species developing on small forbs. Conclusion: The changes in species composition following the cessation of military use are attributable to successional change, coupled with climate-driven expansion of thermophilous and mobile species. By blocking succession, large ungulates support butterflies depending on competitively poor plants. Preserving butterflies of late-successional stages is ensured by the diverse setting of the reserves and by the relatively low ungulate densities.