The aim of this paper is to address the analysis of the metaphors that emerge from a deep, pre-linguistic dimension: the activity of dreaming. The work is divided into three main parts: in the first one, we will introduce the debate on metaphor and dreaming. In the second part, we will explore how, according to Hillman, the understanding of dream metaphors necessarily involves the activity of connecting the (rational and speculative) waking Ego with the characters that inhabit the so-called "underworld” in order to produce a reflexive integration able to add meaning to the psychic life. In parallel, we use Merleau-Ponty’s perspective to describe the relationship between dreaming and awake experiences in a new way, for which the waking world is present in the dreaming one as an expression of the same complexity. Finally, we contextualize these ideas in the psychotherapeutic field and argue for a hermetic value of metaphors that appear in dreams. According to this view, metaphors have a strong communicative value and can express the multilayered complexity of subjectivity.