The character that embodies the archetype of the wise old man in mythology is often represented by figures such as Merlin in Arthurian legends or Gandalf from J.R.R. Tolkien's works. These characters typically possess great knowledge, experience, and insight, guiding younger heroes through their journeys. They serve as mentors who impart wisdom and help characters navigate challenges, emphasizing themes of growth, enlightenment, and the importance of wisdom across different cultures and narratives.