This article traces a discontinuous tradition of council thought from the Dutch and German council communist tendencies of the 1920s to its re-emergence in the writings of three important mid-twentieth century political theorists: Cornelius Castoriadis, Claude Lefort and Hannah Arendt. It connects an intellectual history of the council concept in post-war Europe with a political history of the small revolutionary groups that fostered council-related political activity during this era. It claims that as the experience of the European council movements began to be interpreted within a new political context, this gave rise to several radically altered forms of council thought. In this more subjectivist and praxis-oriented tradition, the councils became a utopian placeholder for theorists to explore their particular interests in human creativity (Castoriadis), self-limiting power (Lefort), and political freedom (Arendt). This analysis develops our understanding of the continuities and ruptures of the council tradition within political thought.