The White Horseman is a statue that is reputed to have the power to foretell the future. It was acquired by the Phantom in the 1600's. The Phantom had made friends with Crown Prince Arami of Timann. When he went to visit the Crown Prince, he found that the Singh Pirates had kidnapped him and stolen many valuable treasures. The Phantom rescued his friend and the statue, which the Singh considered the most valuable treasure of all. The Phantom was given the statue in gratitude for the rescue.

Like many of the rare and historically important articles in the treasure-room, the Phantom considers it not as a possession but as a trust, and his role as the custodian of its safekeeping.