Corpus linguistics is a new branch of linguistics but its status is still debatable - either as a theory or a methodology. This article aims to give an overview of the different approaches and perspectives of corpus linguistics. The neo-Firthians contend that corpus linguistics is a method, while other prominent corpus linguists claim that it is a theory. Other corpus linguists believe that corpus linguistics can be both a methodology as well as a theory depending on the extent and purposes it is used for. The applicability of corpus linguistics as a methodology is observed in English Language Teaching and Learning (ELT). Learner corpora are used extensively in second language pedagogy and research as either direct approach involving Data-Driven Learning (DDL) where students participated as researchers and worked directly with corpora or indirect approach where corpus is used as a research method in producing dictionaries, syllabuses, textbooks, and teaching materials.