In the Greek literary tradition, allegorical readings on Homer’s epic are grouped according to their motives into two major categories, defensive or apologetic vs. exegetical or appropriative (Domaradzki, 2017). As for Homer’s own use of allegory, one finds a few cases of personification which may be considered as “prophecy of the allegory to come” (Whitman, 1987). Yet, there is a consensus that the Greek epic did not present itself as ainos “veiled expressions” (Ford, 2002). Against this background, I look at the Shahnameh to examine if and how the work’s presentation of itself opens the path to any type of allegorical readings. I will then look at some sample mystical allegorical readings of the Shahnameh by Attar and Adham Khalkhāli to identify the types of the allegorical readings, their validity and contributions. I argue that the introduction to the Shahnameh presents the work as a work of history; it is to narrate the life stories of kings and champions with the aim of educating the audience on practical matters and on moralities. As such, similar to the Greek epic, the Shahnameh does not present itself as a multi-layered text in need of interpretation. However, in his prologues to some controversial stories, e.g., that of Rostam and Esfanidar, Ferdowsi implicitly provides parallels with some natural phenomena, in this case, an outrageous vernal cloud which destroys the flower as an act of love and nurturing. These parallels serve to exculpate the hero from charges of immorality, and they resemble Homerian apologetic allegoreses which make parallels between notorious battles between gods and some natural phenomena. Attar and Khalkhāli’s allegorical readings, on the other hand, represent appropriative readings which employ the powerful imagery of the Shahnameh in the service of clarifying their mystical points. I focus on the story of Bizhan and Manizheh which is taken by the Sufi authors to represent the situation of the fallen man imprisoned by his desires, who can be rescued by the Prophet or a spiritual master. I argue that this reading is plausible in that while mapping the characters onto entities in a more abstract realm, it closely follows the line of the original story. Furthermore, it highlights some elements of the original story which may otherwise go unnoticed, e.g., Bizhan’s purification from attachments to this world and from grudge against his ill-wisher as a precondition for his rescue from the well.