Natural images have a vast amount of visual patterns distributed in a wide spectrum of subspaces of varying complexities and dimensions. Understanding the characteristics of these subspaces and their compositional structures is of fundamental importance for pattern modeling, learning and recognition. In this paper, we start with small image patches and define two types of atomic subspaces: explicit manifolds of low dimensions for structural primitives and implicit manifolds of high dimensions for stochastic textures. Then we present an information theoretical learning framework that derives common models for these manifolds through information projection, and study a manifold pursuit algorithm that clusters image patches into those atomic subspaces and ranks them according to their information gains. We further show how those atomic subspaces change over an image scaling process and how they are composed to form larger and more complex image patterns. Finally, we integrate the implicit and explicit manifolds to form a primal sketch model as a generic representation in early vision and to generate a hybrid image template representation for object category recognition in high level vision. The study of the mathematical structures in the image space sheds lights on some basic questions in human vision, such as atomic elements in visual perception, the perceptual metrics in various manifolds, and the perceptual transitions over image scales. This paper is based on the J.K. Aggarwal Prize lecture by the first author at the International Conference on Pattern Recognition, Tempa, FL. 2008.