The study of semantic prosody has become one of the important research topics in corpus linguistics, despite the fact that it has remained controversial. This paper aims to revisit the notion of semantic prosody, pinpointing some problems in the previous interpretation of semantic prosody, such as the views of “semantic imbuing”, “semantic transfer” and “a binary distinction between positive and negative”. It proceeds to discuss the phraseological and pragmatic property of semantic prosody. The following conclusions are drawn. Semantic prosody is not the property of a word, but of the phrase which functions as a unit of meaning. With the phrase changing in different contexts, the semantic prosody also changes. The concept that a word has a negative or positive semantic prosody is a simplistic view of attitudinal meaning, and the semantic prosody should be defined as detailed pragmatic functions of sequence in particular contexts. This paper also proposes the notion of discourse prosody, and assumes that the semantic prosodies at the level of collocation, extended unit of meaning and discourse interact with each other. Finally, this paper raises some research questions for the future research.