Among Rachmaninoff's four piano concertos, and indeed, within the genre of piano concertos itself, it is one of the most popular masterpieces. It is a highly captivating work, characterized by its accessible melodic beauty, perfect structure, and pianistic brilliance. It received the Glinka Prize in 1905.

After graduating from the Moscow Conservatory, Rachmaninoff, who had become famous overnight with his Prelude in C-sharp minor, Op. 3, No. 2, was commissioned to compose a new concerto and began working on this piece around 1899. However, Rachmaninoff subsequently fell into a severe nervous breakdown, rendering him completely unable to compose. In 1901, after his illness was completely cured through treatment and he had largely regained his creative drive, this piece was completed. It was dedicated to Dr. Nikolai Dahl, who treated his illness.

I. Moderato, C minor, 2/2 time, Sonata form

The majestic chords played by the piano for eight measures, followed by arpeggios and broken chords, lead to the overwhelming first theme presented by the orchestra. It captivates listeners with great impact. The second theme in E-flat major is characteristic of Rachmaninoff, possessing a sentimental and profoundly sweet charm.

II. Adagio sostenuto, E major, 4/4 time, Ternary form

A captivating movement with a lyrical melody that evokes a sense of nostalgia. Over the piano's triplets, the clarinet plays the first theme. After this theme is treated polyphonically, it transitions to the un poco animato middle section. Subsequently, the piano performs a brilliant and dazzling cadenza. The main section is repeated, leading to a coda with piano chords, and the piece concludes quietly.

III. Allegro scherzando, C major, 2/2 time

Following an orchestral introduction, the piano plays the central theme. Played staccato, it creates a remarkably playful atmosphere. The second theme, played by the oboe and viola, contrasts with the first theme and is full of Rachmaninoff's characteristic lyrical beauty. In the development section, variations of the first theme and recapitulation of elements from the second theme are observed. It moves with momentum towards the coda, and finally, the piece concludes majestically with an overwhelming full orchestral tutti.