The study of the interfaces among rhetorical cognitions such as metonymy and metaphor has become the focus of cognitive pragmatics. Hyperbole, as one of the basic cognitive patterns, has received more attention recently. However, hyperbole has been only studied mainly from a metaphorical perspective. On the other hand, high-level metonymy is also a hotspot in cognitive linguistics both at home and abroad, but its scope of application needs to be expanded. Adopting the theory of high-level metonymy, this paper analyzes the generation and comprehension of hyperbole, and finds that, firstly, from the addresser's perspective, hyperbole is generated via “scale metonymy”, “part-whole metonymy”, as well as “cause-effect metonymy”. Secondly, from the perspective of the addressee, the comprehension of hyperbole is based on “event metonymy”. Thirdly, both the generation and comprehension of hyperbole are the results of multiple high-level metonymies operating together, drawing on our embodied experience.