Some have raised the question of what similarities exist between modern Satanism and liberal thinking in the modernization of the functions of Christian myths. This study employs a comparative approach to examine the aforementioned similarities in the myths of the god-king (the lord) and Satan. The findings indicate that for the neo-mythology of the myths of the lord and Satan, first, metaphysical approaches to these myths were eliminated; then, their definitions and interpretations in the Bible were redefined. Accordingly, the modernization of the aforementioned myths, based on modern functions—after negating their theological function—can be divided into two stages: a) the modernization of myths based on cultural functions; b) the modernization of myths based on liturgical (ritual) functions. It is noteworthy that liberal thinking and modern Satanism in the first stage overlap with each other, while Satanism in the second stage, which involves the reutilization of theological–modernized myths in religious rites, is distinguished from liberal thinking.