Legend and romance are both forms of strange and fabulous narrative, relating incredible events and adventures. The two terms overlap and are often used imprecisely. However, there are some differences between them. A legend is most likely to refer to an ancient story, the origins of which are lost in the mists of time. It will often be a collective work, which will tell the story of a people or a nation, explaining something about their identity. The historicity of a legend is often disputed, and it could refer to a mythical figure, a real person, or someone who may or may not have existed.

A romance is generally a work of fiction by a specific author. While legends are classified mainly by country, there are genres of romance which are more specific in terms of period and content, such as the Hellenistic romance or the medieval chivalric romance. A romance is not necessarily a love story, but it will often contain either the search for love or some other type of quest, which can generally be understood allegorically. Whereas legend is similar to myth in its foundational purpose and collective meaning, romance is a form of fiction which focuses on the individual, as well as being the product of individual talent.