The illustration “Siyavash Passing across the Fire” is one of the ancient Iranian stories which has entered the world of painting and has various versions illustrated beautifully and is the only illustration in Iranian painting history which has been illustrated several times. In Iranian art of painting, speech and image are defined as independent and distinct texts but intertextuality creates an inner dialogue between them. Investigating the intersemiotic relations between two different systems in one place (speech and image) and also, as Gerard Genette stated, converting the semiotic system of a literary text into image which falls into transposition category of Hypertextuality studies can be considered as a kind of intersemiotic translation. This paper attempts to place emphasis on studying intertextuality in the relationship between speech and image of the illustration “Siyavash Passing across the Fire” in terms of the interaction between texts and also investigating Siyavash as a myth from Dumezil’s perspective; Three actions of monarchy, gallantry and fertility not only can be scrutinized in the myth of Siyavash as the most mysterious one, it is analyzable with regard to the three characters of Siyavash, Soudabeh and Keykavous in the mentioned illustration as well. Accordingly, two mythological and semiotic approaches are used to study this illustration and to crystallize the fact that illustrator is a kind of translator, for he/she converts a text into an illustration knowing the hypo-text and also, in adaptation process, transforms verbal sign system within a certain type of narrative translation into visual sign system.