Also known as the Council of the Wise, they were a group that consisted of the wisest men and women in the universe. Long ago, they were noted to had come to Eternia in order to store their knowledge within the Golden Disks of Knowledge. To watch over these artifacts, they made Zanthor the keeper of the Golden Disks. However, he betrayed his role by siding with Skeletor and as a result he was punished by the Council who banished him into the Phantom Dimension. This punishment was during a fair hearing and his sentence was considered just.
At some point afterwards, the Council was disbanded and the only remaining member to still operate was Zodac. Many years later, Zanthor used his powers to attract attention at Castle Grayskull where he intended to appeal to the Council of the Wise regarding his punishment. The Sorceress of Castle Grayskull, however, was unwilling to go against the decision of the Council though He-Man made an argument that Zanthor still held some good in him. Thus, he became Zanthor's champion and met with Zodac to petition his release.
The Council of the Wise also appear in issue #5 of volume 3 of the MVCreations comic book, during Eternia's ancient past, formed by Eldor, He-Ro, two Gars, a male Starchild, a reptilian old woman, an armored member of the Fire People and an alien of unknown species. Lord Nikolas Powers, The king of Zalesia asks them for help to save his daughter, but he is denied by the female Gar member of the Council. Because he had broke the treaty that the Snake Men and the Council Of Wisdom, Serpos was unleashed on Zalesia, destroying the whole kingdom.