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In The Lord of the Rings by J. R. R. Tolkien, the Council of Elrond is a fictional secret council called by Elrond in Rivendell in order to decide what should be done with the One Ring.

The account of the Council dominates Book II, Chapter 2 of the first volume, The Fellowship of the Ring, which is named after it.

Those present at the Council had arrived at Rivendell by different paths and on separate errands, yet they were all ultimately concerned with the Ring and its effect upon the people of Middle-earth.

Important participants at the Council included:

• Elrond - convener
• Erestor - one of Elrond's advisors
• Gandalf - recently escaped from Saruman at Isengard
• Aragorn - having escorted Frodo and his companions from Bree
• Frodo Baggins, Hobbit - the Ring-bearer
• Bilbo Baggins, older cousin and adopted father of Frodo, finder and former bearer of the Ring, long resident in Rivendell
• Boromir of Gondor - arrived in response to a prophecy
• Glóin of the Dwarves - arrived seeking counsel after a messenger from Mordor sought news of the Ring from the Dwarves
• Gimli the Dwarf, son of Glóin, accompanying his father
• Legolas, son of Thranduil, an Elf of the Woodland Realm - came to tell Elrond that Gollum had escaped from the Elves' captivity
• Glorfindel - a powerful Elf-lord of Rivendell, the famed Balrog-slayer of Gondolin
• Samwise Gamgee - Frodo's companion; not invited, he secretly eavesdropped on the Council until he gave himself away
• Galdor of the Havens, messenger of Círdan

At the Council the full story of the Ring was told by Bilbo and Gandalf. Boromir was all for taking the Ring and using its power in the defence of Gondor, but Gandalf and Elrond were adamant that the Ring, having been forged by Sauron himself, would corrupt and ultimately destroy whoever tried to use it. Eventually Gandalf felt it necessary to employ shock tactics by reciting the Ring-inscription in the Black Speech, despite angering Elrond in the process.

It was suggested that the ring could be taken west over the sea but Elrond dismissed this saying that the ring was a problem for the eastern lands to deal with. Also it was proposed that the ring be cast into the deep sea but Gandalf felt this would only postpone the problem. Eventually it was decided that the only way to be free of Sauron and the Ring was to cast the Ring into the Crack of Doom in Mount Doom.

It then became necessary to decide who should take responsibility for such a perilous undertaking. Bilbo offered to finish the job he had started, but Gandalf told him he could not take back the Ring. Eventually Frodo surprised everyone including himself by telling them he would take the Ring. After some thought Elrond agreed. At this point Sam emerged from hiding and demanded to accompany Frodo, and since it was hardly possible to separate them Elrond agreed.

The matter of who else should accompany Frodo (later to be known as the Fellowship of the Ring, hence the title of the book and subsequent movie) was decided later, although the movie version of The Fellowship of the Ring depicts the choosing of the Fellowship as taking place at the end of the Council, and has Merry and Pippin also eavesdropping on the proceedings and demanding to accompany Frodo.