The annalist records the history of the Black Company, known as the Annals. Over the centuries the Company's annalists have accumulated an immense archive, though many tomes have been lost. These include the first Annals which describe the Company's origins. The annalist's main duties are to keep a list of fallen brothers and to organize readings of the Annals. This is an important ritual, which is expected to raise moral and reinforce the Company’s connection with its past.

Croaker was probably the Black Company's most reputed annalist. He held the position during the Company's service under The Lady. That part of the Annals was later called the "Books of the North". Croaker was forced to abandon the Annals during the Battle of Queen's Bridge, a very shameful act for an annalist. However, this pales in comparison to the loss of almost seventy years worth of annals at the Battle of Urban decades earlier. After the Battle of the Barrowland the Annals were retrieved and he was somewhat redeemed. During the Black Company's southward march to Khatovar, he discovered that some missing Annals were archived at the Temple of Travellers' Repose, and spent many hours translating them with One-Eye, Lady, and the local monks. Other notable Annalists that succeeded him include Murgen, Sleepy, and Lady herself.

In the Black Company series a number of characters held the office of annalist.

In addition, a number of individuals also held the office during the Companies long history.