Postwar
Wolfit toured more often than he played in London. Hermione Gingold adapted an old theatrical joke, saying that "Olivier is a tour-de-force, and Wolfit is forced to tour" but Wolfit preferred touring with his company and was often unhappy in West End productions, beholden to directors and acting alongside major actors to whom he was not clearly superior. He firmly believed that Shakespeare should be taken to the people and used West End appearances and films to subsidise his touring company. After the war he continued his annual tours in Britain and in 1947 he presented two successful tours of Canada, a season in New York and a London season at the Savoy Theatre.
Hoping to present his company in another London season in 1949, Wolfit found that no West End theatre was available and instead he took an old music hall, The Bedford, in Camden Town, north London. He presented a sixteen-week season of "Shakespeare at popular prices", and played to packed houses. The Stage said of his performance in King Lear, "There is no acting in our theatre to-day as magnificent as that of Donald Wolfit when he plays Lear" but his productions had cheap costumes and scenery and his company was below his own standard of acting. Among the audience during this season was the young Bernard Levin, who later wrote that although "Wolfit and his dreadful company ... horribly travestied Shakespeare" they nevertheless enabled young people to come to know and love the plays and for this Levin held Wolfit's memory in high honour. Levin recalled Wolfit's customary curtain call, "with the old megalomanic, as he thanked the audience, indulging in the same exhausted clutch of the curtain", which Stephen Potter said he did whether he had been "laying himself out with Lear or trotting through twenty minutes of Touchstone".
In 1950 Wolfit was appointed CBE. In that year Tyrone Guthrie invited him to return to the Old Vic to play Lear, Timon of Athens, Lord Ogleby in The Clandestine Marriage and Christopher Marlowe's Tamburlaine the Great. He had great success in these roles but according to Harwood he "chafed at performing in a company other than his own and surrounded by excellent supporting actors". He quarrelled with Guthrie and left the company.
Wolfit returned to actor-management in 1953 with a season at the King's Theatre, Hammersmith, with a stronger company than usual. He opened to enthusiastic reviews and full houses for a double bill of Oedipus the King and Oedipus at Colonus but in Harwood's words, later in the season and for the last time, "he resorted to his tired Shakespearian productions, in which, however, he gave some magnificent performances". Although Wolfit's touring companies were frequently criticised, they nevertheless included, among many less familiar names, future stars such as Peter Jones, Harold Pinter, Eric Porter, Brian Rix, Frank Thornton and Richard Wattis.
In 1957 Wolfit announced his retirement as an actor-manager, but after his knighthood in that year he emerged from retirement and undertook one final tour under his own management. A major role of his later years was the title character of Henrik Ibsen's John Gabriel Borkman at the Duchess Theatre in 1963. One critic said that Wolfit's performance would have pleased Ibsen and deserved to be regarded as the definitive portrayal. Wolfit's last stage appearance was in the musical Robert and Elizabeth, as the tyrannical Mr Barrett in 1966–67. Wolfit died in the Royal Masonic Hospital, London, on 17 February 1968 and was buried in St Peter's Church, Hurstbourne Tarrant, Hampshire.