Two Types of יראה
Parshat עקב has one of the more famous verses in the Torah. Moshe Rabbeinu speaks to the nation, and asks the question, מה ה׳ אלוקיך דורש ממך, what is it that Hashem asks of you? The answer is כי אם ליראה את ה׳, but it is to fear Hashem, and love Him with all your heart and all your soul.
The word, ״יראה״, is really very difficult to translate into English, for it means much more than “fear.”
The Rabbis speak of two types of יראה that a Jew should try to possess. The lower level of יראה, is יראת העונש, the fear of punishment. Here, an individual observes the Mitzvot primarily because he does not want to receive the punishments enumerated in the Torah.
The higher level of יראה, is called, יראת ההתרוממות, the fear of the exaltedness of G-d.
Such an individual realizes how high and holy Hashem is. He stands in awe of the awesomeness of the Creator. This is a higher level because he realizes his own fragility and vulnerability in comparison with Hashem.
In either case, one of the best compliments one can receive is that he is referred to as a big ירא שמים, that he truly acts in all aspects of life, based on his fear of Heaven.