It is unclear whether she originated from a character trait of the Greek goddess Athena or has always existed as an independent deity.

The name derives from the Greek noun νίκη níkē meaning "victory", "upper hand [in battle or contest]".

[13] R. S. P. Beekes finds the word unrelated to Proto-Indo-European *ni-h₃kʷo- and sees no strong evidence for the proposed relation with νεῖκος and the Lithuanian ap-ni̇̀kti "to attack".

Baudrillart, in another paper (as cited in Sikes, 1895), shares a similar view that Nike was once a part of Athena and separated from her around the 5th century.

According to Hesiod's Theogony, "Styx, daughter of Oceanus, in union with Pallas, bore ...trim-ankled Victory [Nike]..." as well as her siblings Zelus (Zeal or Aspiration), Kratos (Strength), and Bia (Power).

[10] This lineage is also supported by the Bibliotheca where "...Nice, Cratos, Zelos, and Bia" are described as the children of the Titans Pallas and Styx.

[16] In another source, Homeric Hymn 8, Ares the God of War is portrayed as the "...father of warlike Victory.

[20] For Styx he gave her the honor of being "...the great oath of the gods..."[20] For her children Zeus granted them his eternal favor by allowing them "...to dwell with him for all time.

In her speech she mentions all the gods that have given up and fled the battle including Ares, Hermes, Apollo, Aphrodite, and Hephaistos.

[23] She also mentions the possible repercussions of allowing Typhon to win, which includes the destruction of Olympus and the rape and enslavement Zeus's daughters Athena and Artemis.

[23] When in the morning Typhon again issued his challenge, Zeus gathered the clouds around himself for armor and answered the monster's threats.

[21] This role of assessing the greatness of skill of a god or mortal is most evident in war, where Nike is often depicted on the side of the victor granting them the victory.

In Bacchylides Ode 11 she is introduced with the stock epithet "giver of swift gifts..."[21] However, Nike is also represented in some sources as the prize in a contest to symbolize victory: "... the blossoms of glory-bringing Victory nurture for men golden, conspicuous fame throughout their lives..."[32] In this source Nike is portrayed as a garland of flowers to be bestowed upon the victor during the Panhellenic Games.

Nike alone is often depicted in Greek art winged and carrying a symbol of victory, such as a laurel wreath or a palm frond.

[33] The marble statue of Nike, possibly designed by Arkhermos of Chios and found at Delos, dates to around 550 BCE and exemplifies this style of pose.

[34] Richard Neer proposes that this posture with the running stance, wings, and flowing garments were meant to evoke the swift speed of the goddess.

[33] An example of a transitional phase in movement from the "kneeling run" to the alighting and striding pose is Paionios's statue of Nike discovered in the Temple of Zeus at Olympia.

This statue of Nike was made of Parian marble and was dedicated to Zeus by the Messenians and Naupaktians around 420 BCE during the Classical period.

[33] The slight overfold of her peplos across the midsection also evokes the sense of a small wind blowing upwards from her soft descent.

All these details suggest Nike is appearing and making a graceful descent to the earth rather than dashing sideways into view.

[41] Pheidias's cult statue of Athena from the Parthenon in Athens also held a smaller Nike statuette in one hand and a spear in the other.

[44] In his Description of Greece Pausanias claims that Athena Nike's depiction as "Wingless Victory" was meant to keep the goddess in Athens.

[52] The earliest substantial evidence for a priestess of Athena Nike is provided in a decree named IG i^3 35 passed in the early fifth century by the Athenian Demos.

According to Michael Laughy, the priesthood was traditionally controlled by a genos or family clan who selected the next priestess from one of their heirs.

[55] The final unusual aspect of the decree was that it broke with Athenian tradition by handing over responsibility of the priesthood from the genos to the state.

According to Laughy, ancestral practice played a key role in how Athenian cultic rituals and sacrifices were performed.