In this paper, we study spherical gravitational collapse of inhomogeneous pressureless matter in n → 4d Einstein-Gauss-Bonnet gravity. The collapse leads to either a black hole or a massive naked singularity depending on time of formation of trapped surfaces. More precisely, horizon formation and its time development is controlled by relative strengths of the Gauss-Bonnet coupling (λ) and the mass function F (r, t) of collapsing sphere. We find that, if there is no black hole on the initial Cauchy hypersurface and F (r, t) < 2 √ λ, the central singularity is massive and naked. When this inequality is equalised or reversed, the central singularity is always censored by spacelike/timelike spherical marginally trapped surface of topology S 2 × R, which eventually becomes null and coincides with the event horizon at equilibrium. These conclusions are verified for a wide class of mass profiles admitting different initial velocity conditions.