Gelede Masquerade festival reflects Yoruba cosmology by presenting a worldview in which visible and invisible forces interact continuously. The dance serves as a reminder that life must be lived in balance; with respect for both earthly relationships and the spiritual realm. The masked figure Gelede Masquerade represents more than the dancer; it embodies ancestral voices and spiritual authority. Hence, the need to examine Gelede Masquerade Adherents’ cultural identity, acentral belief system, dance costumes and pre-festival performance preparations in Yorubaland, South-West Nigeria. The study adopted observational research design through, fieldwork carried out in Badagry, a Yoruba-speaking town where Gelede Masquerade festival is still actively performed. An Interview Guide was used to conduct in-depth interviews with key informants; mask/costume makers/artisans, performers/dancers, elderly Gelede masquerade  shrine custodians. In-depth interviews were documented via audio and video recordings of the exact behaviors, ritual songs and words used by participants. Also, the visual materials; photos and videos, observational fieldnotes, were transcribed, reviewed and analyzed using thematic technique focusing on mask design, dance performance style, ritual songs composition and ritual elements. Findings revealed that; Gelede Masquerade Adherents are mostly women and men; the theatrical performance represents sacredness cum moral, spiritual, and social Yoruba cosmological institution that reflects the values, tensions, and structures of the society. Gelede Masquerade tradition celebrates the role of women, reinforces social norms and uses satire and symbolism to correct behavior and preserve acceptable norms within the Yoruba social structures. The study recommend that the associated cultural and tourism potentials and should be presented by major stakeholders among the government agencies and the Adherent societies.