The first part of the article is devoted to the history of the genre “opera paraphrase” as it appears in the contemporary theoretical literature and in particular in Czerny’s treatises. The analysis of Réminiscences de Boccanegra is done in three stages: 1) the finding out of the thematic material chosen by Liszt from the Verdian score; 2) the analytical survey of Liszt’s arrangement of the chosen material; 3) the general form of the “new” piece and its narrative content. The analytical method follows the principles of Schenkerian theory.