Metaphor has long been a mesmerizing literary phenomenon that attracted attention of literary critics and brought joy and fulfillment to literary hedonists. It shows the writers greatness of talent in presenting the ordinary in an extraordinary artistic fashion, of transforming the plain into the sublime, of overcoming the physical in favor of the transcendent. However, with the discovery of conceptual metaphor within Cognitive Linguistics, scientific community and ordinary people were baffled. It turned out that metaphor is not at all a novel linguistic and literary creation, but rather an omnipresent everyday occurrence. Furthermore, metaphor became a matter of thought rather than language, and this thought was characterized by being embodied in nature. The prime working principle commanding metaphor was said to be the same one that governs our cognitive constitution. Subsequently, the flood of cognitive research and neuroscientific investigation started to increase significantly in the hope to understand this intricate and peculiar phenomenon. The two major theoretical approaches to the study of conceptual metaphor that will be dealt with in this work are Conceptual Metaphor Theory, with George Lakoff and Mark Johnson as its most fierce proponents, and Blending Theory, established by Gilles Fauconnier and Mark Turner. The aim of this work is the comparison between the two theories and the presentation of their wide scope of application within different aspects of human intellectual endeavor.