The Goblin Force was born at the beginning of reality during the Big Bang. Like the Phoenix Force it had limitless power, but unlike the Phoenix, it derived power from its ravenous hunger that could not be sated. Its hunger lead it to consume whole galaxies, when it encountered the Phoenix Force, the Phoenix stood against it only to be consumed. Even Galactus, the devourer of worlds fell to the power of the Goblin Force's hunger. It was not until the 5th Host of the Celestials stood against the Goblin Force that it met defeat, though it was not destroyed. The Celestials eventually died from the battle, leaving the Goblin force only to be contained. 
Many years later, the Goblin Force seized the opportunity to attach itself to the life force of Madelyne Pryor, making her its conduit into the world again, being reborn as the Goblin Queen through the corruption of Madelyne Pryor. As the Goblin Force gradually took over Madelyne's mind, it waged a war against Earth heroes, brainwashing most of them to join forces with her. Eventually, the Goblin Force was again contained by Scottie Summers, the son of Madelyne Pryor and Alex Summers who was said to have celestial level potential in power (similar to Franklin Richards); Madelyne Pryor was lost in the process.
The Goblin Force eventually returned after possessing the comatose body of the Beyonder, adding his power to her own, and waged another war against Earth heroes joining forces with Dracula. Posing as the Beyonder, the Goblin Force killed most of Earth's heroes, including the X-Men, Fantastic Four, the Avengers, Doctor Doom, and Namor. The Goblin Force eventually revealed herself to Havok after stripping the Beyonder's body of its power. Havok was revealed to hold within him the Nexus of All Realities, an unlimited supply of energy funneled through him; using the Nexus, combined with Scottie's celestial level power, the Goblin Force was separated from Madelyne and defeated.
Insatiable Hunger: The Goblin Force possesses an unknown capacity to absorb massive amounts of energy from cosmic-level entities, such as the Celestials, the Phoenix, the Beyonder and Galactus. The goblin force adds those powers to itself once it consumes them. It is not yet known what the extent of the Goblin Force's powers are.
Energy Absorption: It can directly absorb any type of energy such as Cyclops' ruby-red-colored optic blasts or the entire energy of a star, sun, or even an entire galaxy.
Disintegration Waves: It can consume and remove a near infinite molecules per second.
Psionic Nexus: As it is the nexus of all psionic energy, it has vastly strong and powerful mental abilities, including telepathy, empathy,and telekinesis, and often seeks out hosts who have psionic abilities. When bonded with a host, the Goblin Force vastly strengthens and amplifies all of their superhuman mutant powers and abilities to immeasurable and innumerable power levels.
Telekinesis: Goblin Force has immeasurable telekinetic ability, being capable of grasping entire planets and destroying them with a single thought.
Concussive Force Blasts: It can wield this energy to project beams of immense concussive force that can destroy planets.
Telepathy: It is capable of displaying various psionic feats with the minds of others including reading and communicating with thoughts over vast distances.
Sorcery: Possibly one of the greatest casters in the world, the Goblin Force is capable of mass manipulation over magic energy. Demonstrated to even be capable of endless possibilities of spell casting, demonstrated to be stronger than Morgan le Faye, Merlin, and the Scarlet Witch all together.
Shadow-Morphing: Allowing to dematerialize or create demons and goblins from shadows, lending them it's power.
Immortal: The Goblin Force cannot die, meaning if it is even destroyed some how, it's entity will rebuild and create itself once again.
Cosmic Manipulation: Possessing massive control over the cosmos, the Goblin Force can destroy planets and galaxies, summon comets and meteors, change the weather, and cause terrifying disasters.
Chronokinesis: The Goblin Force has complete control over the time and its aspects, allowing it to alter time and space itself
Cosmic Teleportation: It can teleport others across vast distances such as another planet or galaxy, and the vast vacuum of space itself.
Quantum Singularity: It can transmigrate throughout time and space by folding its energy back into itself, causing it to collapse akin to a black hole. It then reforms itself upon reaching its destination.
Force of Life: The Goblin Force can control and manipulate life and death itself.
Matter Transmutation: It can manipulate matter on a sub-atomic level (e.g., turning wood to gold, stone to crystal, etc).
The Goblin Force is an entity of great power that threatens to destroy all of creation. It is the rival of the Phoenix Force. It is one of the most powerful beings in the Marvel universe.