A survey of the literature demonstrates how the understanding of typology has developed in the last twenty years. The scholarly debate is still quite divided about the nature of typology, its application, and relevance for Christians today. Two major approaches have been identified. The traditional approach is split mostly between prospectivists and retrospectivists. The first group emphasizes the prophetic nature of typology whose prospective element was somehow known by the original author or audience. More often, the second group maintains that although this prospective element can be present in the text itself, it can be known only looking backward from the Christ event. The Post-Critical Neo-Typology approach has changed drastically in the last two decades. This has been driven by the advance of figural or spiritual reading. The approach has two major emphasis. In one group are those who stress the literary aspects of typology. In a second group are those who underline its theological features. In both cases, typology involves looking backwards and retrospectively. In figural studies, the primacy of the text is replaced by the precedence of the reader. There is a call for a return to allegory as practiced in the precritical period. Amid continuities and discontinuities with former periods, the key issues in the debate have not changed. This is an indication that there is need for continuing work in the area.