To advise and guide the Foundation in the matters of operation of the scheme of Awards, a Council of Advisors has been constituted.

Dr. Shrimannarayan, well-known educationist and Gandhian economist was the first Chairman of the Council. Thereafter, Justice M. Hidayatullah, former Chief Justice and Vice-President of India, who was on the Council since the beginning, took over as its Chairman until his demise in 1992. Shri C. Subramaniam, former Union Minister and Governor of Maharashtra and President of the Bharatiya Vidya Bhavan was the Chairman till his demise in 1999. Dr. L.M. Singhvi, former High Commissioner of India in U.K. and MP was Chairman of the Council until his death in 2007. Dr. P. C. Alexander, former Governor of Maharashtra and Tamil Nadu, High Commissioner of India in UK and a former Member of Parliament, Rajya Sabha was Chairman of the Council till 10.2.2011. Justice Chandrashekhar S. Dharmadhikari (Retd.) was the Member of the Council of Advisors of the Foundation since 1986. Later on he was the Chairman of the Council from 2011 till his demise on 3.1.2019. Dr. R. A. Mashelkar, FRS, National Research Professor & Former Director General, Council of Scientific and Industrial Research, is the present Chairman of the Council.

Members of the Council are:

• Dr. R. A. Mashelkar, FRS (Chairman) and (National Research Professor and Former Director General, Council of Scientific and Industrial Research)
• Ms. Anu Aga (Retired as Chairperson, Thermax Limited)
• Ms. Radha Bhatt (Trustee, Kasturba Gandhi National Memorial Trust)
• Dr. Pheroza Godrej (Chairperson, Godrej Archives Council)
• Dr. Sudarshan Iyengar (Former Vice Chancellor, Gujarat Vidyapeeth and Professor, Gandhian Philosophy)
• Dr. Anil Kakodkar (Chairman, Rajiv Gandhi Science & Technology Commission & Former Chairman, Atomic Energy Commission)
• Mr. Sanjit (Bunker) Roy (Founder & Director, The Social Work and Research Centre {Barefoot College})
• Ms. Supriya Sule (Member of Parliament, Lok Sabha and Director, Yashaswini Abhiyan)
• Dr. Mariamma Varghese (Former Vice-Chancellor, S.N.D.T. Women’s University)
• Mr. Rajagopal P.V. (President & Founding Member, Ekta Parishad and Managing Trustee, International Gandhian Initiative for Non-violence and Peace)
• Dr. Anil Gupta (Professor, Indian Institute of Management, Ahmedabad)
• Dr. Vidya Yeravdekar (Principal Director, Symbiosis and Pro Chancellor, Symbiosis International University)
• Ms. Minal Bajaj (Hon. Director, Jamnalal Bajaj Foundation)
• Mr. Shyam Maniyar (General Manager, Jamnalal Bajaj Foundation)
• Ms. Shubhangi Karkannavar (Secretary, Jamnalal Bajaj Foundation)

Trustees and the Hon. Director are ex-officio members of the Council.