The prototype of this collection was 12 pieces actually composed around 1826 and published in Paris as "48 Etudes for Practice in All Major and Minor Keys." Subsequently, after two revisions, first in 1838 as "24 Grand Etudes" (though still only 12 pieces were actually written), it was finally completed in 1851 as the "Transcendental Etudes." The keys begin in C major, adding the parallel minor, and proceed counter-clockwise around the circle of fifths, concluding in B-flat minor. However, the titles were not intended from the outset but were added by Liszt himself or the publisher at the time of publication. It can be said to be a masterpiece that conveys Liszt's virtuosity, which swept across Europe as a virtuoso, to future generations.

No. 1 C major "Preludio"

C major. Although it consists of only 23 measures, it incorporates various improvisatory motifs. It is a brilliant work suitable for the opening of an unprecedentedly grand collection of etudes.

No. 2 A minor (untitled)

A minor. This is one of two pieces without a title (the other being No. 10), but the opening "A capriccio" (capriciously) well expresses the mood of the piece. Partly due to being a revision of an earlier work from his youth, it is a crisp piece characterized by a fiery temperament and frequent use of staccato.

No. 3 F major "Paysage"

F major. A pastoral and quiet piece, like a landscape painting. Its insertion between the agitated No. 2 and the dramatic No. 4 seems to be a consideration of balance and contrast between drama and poetic elements. In the middle section, "Un poco piu animato il tempo," the tempo fluctuates slightly and the volume rises to ff, but it ultimately returns to its original tranquility at the end.

No. 4 D minor "Mazeppa"

D minor. Mazeppa is a hero appearing in Victor Hugo's epic poem "Mazeppa." Although there are various theories, it is believed that Liszt, impressed by this poem, first composed it as a piano piece, then rewrote it for orchestra as a symphonic poem in 1851, and finally transcribed it back for piano to include it in this etude collection. The theme is likely the scene from Hugo's poem: "Mazeppa, bound to a horse and released into the wilderness." The piece repeats variations, interspersed with cadenzas, and concludes grandly in D major. In the margin of the final chord, Liszt himself wrote, "It is finished at last... but he rose again and became king," which likely expresses his joy.

No. 5 B-flat major "Feux follets"

B-flat major. The incorporation of will-o'-the-wisps into music began with Schubert's song cycle "Winterreise," which led travelers astray. Liszt attempted to express this fantastical and elusive phenomenon with intricate technique. Beginning with chromatic scales and employing double notes, leaps, and other devices, it is truly a difficult piece befitting the name "Transcendental Etude."

No. 6 G minor "Vision"

G minor. One theory suggests it is a vision of Napoleon I's funeral, but this is not certain. The piece begins with a heavy Lento theme, moves to D major, adds arpeggiated figures, and, interspersed with octave cadenzas, is progressively varied towards G major, concluding fiercely with Liszt's characteristic brilliance.

No. 7 E-flat major "Eroica"

E-flat major. A revision of an Impromptu published as Op. 3 when Liszt was 12 years old. Following a cadenza-like introduction beginning with a diminished seventh chord, a majestic march-like theme appears at "Tempo di Marcia." As seen in Beethoven's symphonies, E-flat major is a heroic key, and the piece possesses a character befitting its title.

No. 8 C minor "Wilde Jagd"

C minor. Significantly different from the "Hunt" in the Paganini Etudes, this piece is wild, like a hunt for ferocious beasts. The first theme, characterized by broken octaves and dotted rhythms, and the second theme in a major key, initially presented pp, undergo repeated variations and modulations, finally concluding in C major.

No. 9 A-flat major "Ricordanza"

A-flat major. Following No. 3, this is a gentle piece with strong poetic elements. Several themes are all improvisatory, showing dramatic climaxes interspersed with brilliant cadenzas multiple times, making it a beautiful piece that seems to recall various life dramas.

No. 10 F minor (untitled)

F minor. This piece, which never had a title from the beginning, underwent numerous revisions, becoming a work incorporating special techniques and writing styles as an etude. The opening motif of alternating chords between the left and right hands expresses an agitato agitation, and thereafter, ascending figures intertwine with sigh-like descending figures, leaving an unstable impression until the end.

No. 11 D-flat major "Harmonies du soir"

D-flat major. Following an introduction with bell-like imitations in the lowest register and beautiful chords, an attractive theme appears over a wide-ranging harp-like accompaniment. Interspersed with a prayer-like "Piu lento con intimo sentimento," the theme is repeated at ff and builds up with thick chords. The "harmonies" of beautiful church bells ringing on a peaceful evening likely reflect Liszt's strong faith.

No. 12 B-flat minor "Chasse-neige"

B-flat minor. The constant, fine tremolo throughout likely depicts falling snow. Over this, a "snow song" consisting of only six notes is played. Are the small chromatic passages that appear midway through gusts of wind? The snow and wind gradually intensify, finally fading away as the piece concludes.