Though metaphoric language comprehension has previously been investigated with event-related potentials, little attention has been devoted to extending this research from the monolingual to the bilingual context. In the current study, late proficient unbalanced Polish (L1)–English (L2) bilinguals performed a semantic decision task to novel metaphoric, conventional metaphoric, literal, and anomalous word pairs presented in L1 and L2. The results showed more pronounced P200 amplitudes to L2 than L1, which can be accounted for by differences in the subjective frequency of the native and non-native lexical items. Within the early N400 time window (300–400 ms), L2 word dyads evoked delayed and attenuated amplitudes relative to L1 word pairs, possibly indicating extended lexical search during foreign language processing, and weaker semantic interconnectivity for L2 compared to L1 words within the memory system. The effect of utterance type was observed within the late N400 time window (400–)