The article analyzes the interpretation of the euhemeristic theory in the works by V. Rozhitsyn in the 1920s – 1930s. The Soviet author wrote works that were in line with the anti-religious propaganda of that time. Criticizing the cult of saints in accordance with social and political demands, the author studied a number of important theoretical and methodological problems that now are relevant for modern religious studies. In his works, V. Rozhitsyn distinguished between scientific and naive euhemerism. According to the author, “scientific euhemerism” was a critical tool used by scholars of different epochs, including V. Rozhitsyn himself. This method made it possible to find prototypes of mythological plots in historical events of the past, and to see a person who once lived behind the divine founder of a particular religion. “Naive euhemerism”, from the author’s point of view, was a perceptual mechanism of religious consciousness. The peak of naive euhemerism, according to V. Rozhitsyn, was in the 2d – 3rd centuries AD. Despite the fact that the author solved his own problems with the help of such a division, nowadays his interpretation of euhemerism helps us to take a new look at modern methodological and terminological difficulties.