This paper deals with one of the questions that affect the theory and practice of translation, i.e. the theoretical issue of (un)translatability. It presents a historical overview and a critical survey of different approaches to (un)translatability. Reference is made to the two opposed stances adopted by philosophers of the language and translation scholars: relativism (or monadism) and universalism. Special attention is given to the problematic nature of translation, analysing and exemplifying conveniently (i) the linguistic, extralinguistic and cultural difficulties, (ii) the various types of equivalences between source language and target language, and (iii) the main types of realia terms, which have always defied translation. Finally, a rationalisation of the issue is offered, justifying that absolute untranslatability of texts does not exist. And, at the same time, that absolute translatability is also unattainable, especially when dealing with source language stylistic devices or culture-specific terms.