A tradition is recorded in the Talmud (Tractate Megillah 17b, Rashi) that the Sanhedrin will be restored after a partial ingathering of the Jewish exiles, but before Jerusalem is completely rebuilt and restored. Another Talmudic tradition (Eruvin 43b; Maharatz Chajas ad loc; Rashash to Sanhedrin 13b) states that Elijah the Prophet will present himself before a duly-ordained Sanhedrin when he announces the coming of the Messiah. This indicates that despite common misconceptions, a Sanhedrin is a pre-, not post-messianic institution.
This past October, the Sanhedrin was reestablished for the first time in 1,600 years, at the site of its last meeting in Tiberias.
Israel National News (aka Arutz 7) reports Members of Reestablished Sanhedrin Ascend Temple Mount
In a dramatic but unpublicized move, members of the newly established Sanhedrin ascended the Temple Mount, Judaism’s holiest site, this past Monday.
Close to 50 recently ordained s'muchim, members of the Sanhedrin, lined up at the foot of the Temple Mount Monday morning. [The word s'muchim comes from the same root as s'michah, , rabbinic ordination.] The men, many ascending the Temple Mount for the first time, had immersed in mikvaot (ritual baths) that morning, and planned to ascend as a group. Despite prior approval from the Israeli police who oversee entry to the Mount, the officers barred the group from entering the Mount all together, and allowed them to visit only in groups of ten.
As I've previously mentioned, such items are very exciting news according to the mystical path. Quiet steps are starting to come out.
Credit to Rabbi Yess and his mailing list for alerting me to the primary reference article.