The stature of Joseph of Egypt as a prophet remains little known even to Latter-day Saints. From the text restored by Joseph Smith to the book of Genesis we learn that Joseph enjoyed the personal presence of the Lord Jehovah, who covenanted with him relative to his posterity by way of an immutable oath (see JST, Genesis 50:24, 34, 36).
In this prophecy, quoted in part by Lehi to his son Joseph in the preceding chapter, we learn that he knew of the destiny of Lehi and his family and of the destiny of Joseph Smith. The detail of the knowledge had by the ancient Joseph is remarkable.
As an illustration, Joseph Smith, in blessing Oliver Cowdery, said that Oliver would be blessed “according to the blessings of the prophecy of Joseph in ancient days, which he said should come upon the seer of the last days and the scribe that should sit with him, and that should be ordained with him, by the hands of the angel in the bush, unto the lesser priesthood, and after [he should] receive the holy priesthood under the hands of those who had been held in reserve for a long season, even those who received it under the hands of the Messiah, while he should dwell in the flesh upon the earth, and should receive the blessings with him, even the seer of the God of Abraham, Isaac and Jacob, saith he, even Joseph of old.” (Joseph Fielding Smith, “Restoration of the Melchizedek Priesthood,” Improvement Era, October 1904, p. 943.)