The painting was thought to have been finished by Sebastiano del Piombo, but a "new infrared reflectogram lends no support to the theory".

Since the end of the 19th century scholars and critics rejected on various grounds the earlier view that it is a representation of the three Magi gathered before Jesus' grotto.

[10][11][12] The young man could be seen as the new Renaissance science with roots in the past, looking into the empty darkness of the cave, symbolizing the yet undiscovered secrets.

[8] "The emphasis on light and darkness in relation to philosophy has suggested one of the most credible interpretations of the painting, originally proposed by [Peter] Meller, who argues that it represents the education of philosophers, as described in book 7 of Plato's Republic, whose famous allegory concerns the cave, the sun, and the dividing of the line".

In a note about the picture G. C. Williamsom, early in the 20th century, stated that "It represents Evander and his son Pallas showing to Aeneas the future site of Rome".

Karin Zeleny, relying on a reading of Polydore Vergil[15] has proposed that the philosophers are the teachers of Pythagoras – Pherecydes of Syros and Thales.

[16] This interpretation was modified by Frank Keim who claimed that the older philosopher is in fact Aristarchus of Samos[17] Other scholars have asserted that the figures are typical representations for three stages of humanity (youth, middle and old age), three epochs of European civilization (Antiquity, Middle Age, Renaissance), the three Abrahamic religions or some combination of such general conceptions.