Valar

Valar were Ainur the "gods" of Middle-earth who dwell in Valinor. There are seven lords and seven queens.

History
The Valar and the Maiar were created by Eru and were instructed by him a song. They sung his music which created Middle-earth. Melkor however sung a theme of his own bringing discord to the melody and the land, despite the other voices tried to return the path of the theme to the original intent of Eru. As a result life was marred by the evil wrought in the beginning.

The Valar came to the world to build it according to the music Eru had created, and their creativity. Melkor was banished from the Ainur and evermore he was known as Morgoth the Dark Enemy.

The Valar dwelt in Valinor and when the Elves were born according to Eru's plans, they invited them and taught them.

When Morgoth saught to destroy the friendship of Valar and Elves, Feanor intended to hunt him. The Valar forbid him to move to war, but Feanor defied them and led Elves to attack.

During the War of the Silmarils, Earendil the Mariner fled Middle-earth and reached Valinor and pleaded to the Valar for mercy. The Valar intervened and mustered their host and started a new war that destroyed Angband and threw Morgoth down. Most Balrogs were slain and Beleriand was destroyed. Morgoth was shackled and banished until his judgmednt in the Last Day, but Sauron survived and fell at the feet of Manwe pleading for mercy. The Valar allowed him to remain in Middle-earth and hid for years.

After the end of the First Age the Valar invited the elves to return to Valinor and most returned. They gave the sons of Earendil (Elrond and Elros) the choice to be either Elf or Man. Because Men suffered much in the wars against the enemy, they gave them the island Numenor in the midst of the Western Sea and imposed on the Numenoreans the Ban of the Valar: not to sail out of sight of their western shores. When Ar-Pharazon attacked Valinor, they called upon Iluvatar, who destroyed Numenor.

After that they don't interfere in the affairs of Middle-earth except in gravest peril. They sent five Maiar in the Third Age to continue the fight against Sauron, the Wizards.