The paper examines the philosophical and ethical implications of Olódùmarè, the supreme deity in Yorùbá mythology, within the hierarchical structure of Yorùbá gods (Orisas). It describes the position and personality of Olódùmarè as the Supreme Being in Yorùbá culture and cosmology, as similar to and obtained in other known world religions. The research proved that, Yorùbá religion has presented Olódùmarè as the creator of the universe, who invariably is ably assisted by the divinities and deified beings; and whose loyalty to him (Olódùmarè) is sacrosanct and secured in an interwoven intermediary worship/veneration arrangement; offered by the members of the society. To the Yorùbá people, this intermediary narrative has not in any way minimized or diminished the supremacy and sovereignty of Olódùmarè over all creations. The Yorùbá have often vigorously attempted to present a philosophical explanation of Olódùmarè and that of His collaborative gods, in a symbolic and biotic relationship, in the day to day running of his invincible, speculative but actual administration. Facts, to this extent have been revealed in this research that, a factual intellectual presentation of the Yorùbá world view has been brought to light, in terms of the place of Olódùmarè and his relationship with other gods and in terms of his supremacy and preeminent position. The work is descriptive and historical.