The tradition of the origin of the Yorùbá people of Western Nigeria, Republic of Benin, Togo, and the Diaspora indicate one source, Ilé-Ifè, where the varieties of their indigenous political system originated. However, since the colonial period, a debate remains about the place of the Oòni, the King of Ilé-Ifè, in the political and religious systems of the Yorùbá nation, which has led to a perennial discourse across Yorùbáland. Using literature, primary sources such as oral interviews, and participant observations of rituals and festivals spanning several years, this study critically analyses the position of the Oòni in the religious system of Ilé-Ifè. The findings of this study reveal that the festivals in Ilé-Ifè are within the purview of certain family compounds headed by the Ìsòrò (king-priests). It also discovered that the mandatory performance of the Oòni in Ifè festivals is limited the Ìdìó, Olójó, Edì, Ìtàpá, Pokùlere and Ifá festivals only. The participatory role of the Oòni is reflective of the commemoration of the important culture heroes of Ile-Ife who have reigned before Lajamisan, the originator of the current dynasty in the Ìtàpá festival of Obàtálá, Ìdìó festival of Odùduwà, Olójó festival of Ògún, and Pokùlere festival of Obalùfòn. The study further reveals that in the Edì and Ifá festivals, the Oòni re-enacts the performance of the previous Ifè kings in the epochal events in the history of Ilé-Ifè considered important enough to be re-enacted. In line with existing debate about the nature of the religious or political status of the King of Ifè, this study concludes that the structure of the Ifè religious system does not underscore the Johnsonian theory ascribing the role of a chief priest to the Oòni.