The allegorical exegetic tradition was arguably the most popular form of literary criticism in antiquity. Amongst the ancient allegorists we encounter a variety of names and philosophic backgrounds spanning from Pherecydes of Syros to Proclus the Successor. Many of these writers believed that Homer’s epics revealed philosophical doctrines through the means of hyponoia or ‘undermeanings’. Within this tradition was a focus on cosmological, cosmogonical and theological matters which attracted a variety of commentators despite their philosophical backgrounds. It is the intention of this paper to draw attention to two writers: Heraclitus, and Porphyry of Tyre. This paper also intends to demonstrate that the tradition of cosmic allegorical exegesis is still practiced in modern scholarship.