The main idea of opposition based algorithm is that it generates the opposition solution of current solution, evaluates current solution and opposition solution at the same time, and chooses the better one to enter the next iteration.
In general Elite means the choice or best of anything considered collectively
The Elite opposition based algorithm generates the opposition population according to the elite individual and evaluates the current population and the elite population at the same time; in addition, it makes full use of the characteristics of the elite individuals to contain more useful search information than the ordinary individuals which improve the diversity of the population to certain extent.
The elite opposition-based learning (EOBL) is a variation of the opposition-based learning approach (OBL). EOBL has a different update equation that is only applied to the elite solutions (best solutions) in a search space.
The following papers provides a good tutorial about EOBL: