The present study is focused on the image of “the other” in the institutional discourse of Israeli and Palestinian actors, employing Discourse analysis and Functional Grammar in order to segment the discourses and analyze them from the perspective of ingroup and outgroup construals. In doing so, the study explores the dynamics between two securitization processes, taking in account the theoretical shortcomings of the Securitization Theory regarding the nature of the act of security, as well as the relation between the securitizing actor and the target audience.