Philip the Good established the Order of the Golden Fleece, referred to as the most prestigious, exclusive, and expensive order of chivalry in the world.

Philip III the Good ruled as Duke of Burgundy from 1419 until his death in 1467. He was a member of a cadet line of the Valois dynasty, to which all 15th-century kings of France belonged. During his reign, the Burgundian State reached the apex of its prosperity and prestige, and became a leading centre of the arts.

The Distinguished Order of the Golden Fleece is a Catholic order of chivalry founded in 1430 in Brugge by Philip the Good, Duke of Burgundy, to celebrate his marriage to Isabella of Portugal. Today, two branches of the order exist, namely the Spanish Fleece and the Austrian Fleece; the current grand masters are King Felipe VI of Spain and Karl von Habsburg, head of the House of Habsburg-Lorraine, respectively. The Grand Chaplain of the Austrian branch is Cardinal Christoph Schönborn, Archbishop of Vienna.

An order of chivalry, order of knighthood, chivalric order, or equestrian order is a society, fellowship and college of knights, typically founded during or inspired by the original Catholic military orders of the Crusades and paired with medieval concepts of ideals of chivalry.