The article reveals the linguocultural and comparative aspects of ontological space in English and Russian. The ontological space is viewed as a form of physical existence: the object of the world in fairy-tales exists in a certain environment (land, water, air) and lives in a particular place with geological specifics (depression, plain, mountain, peninsula, island) located in a certain direction (north, south, west or east). The investigation focuses on the comparative study of ontological space having the systemic organization of the lexical semantic field in English and Russian folktales. The structural parts of the field – its nucleus and periphery zone – are singled out by means of the comparative analysis. Isomorphic and allomorphic features are pinpointed. The nucleus is shaped by the “Geographical space” in English folktales and “Geological space” in Russian ones. The periphery of the lexical-semantic field “Ontological Space” in English and Russian linguocultures is presented identically: lexemes of “Natural Habitat” constitute the periphery. Such conclusions reflect the attitude of the English and Russians to the phenomenon analyzed. The investigation reveals the specifities of the ‘ontological space’ verbalized by nouns in both languages. A wide range of nomination variety is revealed. Resource data confirm the theoretical conclusions formed. Quantitative results are highlighted. The analysis of non-related languages permits to distinguish cross-linguistic specifics and outlines typological generalizations. This kind of approach is capable of producing further results in studying the folktales’ space within the world of unreality.