The aim of the research was to probe into the teachers’ notion of wisdom and the teachers’ wisdom itself. The study used a phenomenological approach where the experience of teachers was studied by using semi-structured interviews. The interview data were analysed using the qualitative content analysis complemented by some elements of quantification for visualization of a more holistic picture. The phenomenon of wisdom is described on the basis of teachers’ values and experience. According to the teachers, wisdom comprises several aspects and is viewed as a dynamic process. The conclusions reflect the integrity of the phenomenon of wisdom, as well as the importance and prospects of further study of wisdom for its use in the work of teachers.