This study examines the Epe-Ijebu variant of the Ebibi festival. It investigates performance modes, human communication behaviour; including the auditory, vocal visual kinetics and semiological patterns of the ritual performance and its theatrical features, such as stage for performance, the characters, property and costumes, music and dance and the various audiences which abound. The paper identifies the elements of theater in the festival. It also examines the ritual features of the festival. The paper concludes that though ritual is not synonymous with theater, all the early manifestation of theater are embedded in ritual particularly as manifestation in the Ebibi festival performance.