The paper examines peculiarity of theoretical approach in the collection of research works “Art of Portrait”, published by the Academy of Artistic Culture in 1928. This book still is a cultural phenomenon, whose existence is one of unique evidences of its time. The collection and its main theses are considered in different contexts: the context of time (the 1920s) assumes that portrait painting should be treated as a genre going through crisis; the character of studies, making the collection an example of complex research, which was rather unusual for its age. And finally, perception and reception of the collection's main theses and its insufficient comprehension in Soviet historiography define its singleness and emphasize that it is necessary to restore its significance for Russian art studies.