Lexical semantic relations have played an important role in the recent developments of Natural Language Processing and Computational Lexical Resources as well. This paper reviews the notion of lexical semantic relations in the WordNet-like lexical resources, and proposes a formal modeling of lexical semantic relations using the extended Formal Concept Analysis. I believe that the proposed formalization will be able to highlight problems with regard to lexical and cultural gaps, and serve as a foundation for solutions that support lexical theoretical explorations and applications for multilingual wordnets in the future.