Liszt's Hungarian Rhapsodies are uniformly considered highly challenging in terms of technical execution. However, their artistic value is frequently questioned. This dissertation examines the compositional elements that are often overlooked in these virtuoso works, and provides a viewpoint into their interpretative characteristics. Furthermore, it pursues a claim that besides being excellent performance pieces, these works also make an intriguing contribution to Liszt scholarship, and deserve meaningful consideration in terms of their artistic quality. Following the Introduction (Chapter 1), Chapter 2 provides a brief historical perspective of the critical affirmation Liszt the composer encountered from the musical society. It also includes a short background on Liszt's Hungarian Rhapsodies, as well as the general reactions these works evoked from pianists, audiences, and scholars, during the time they were composed to the present day. As the main body of the dissertation, Chapter 3 investigates the three primary compositional concepts found in Rhapsodies Nos. 6, 10, and 12. These concepts are divided into three subchapters: Transformation of Themes, Controlled Pianistic Textures, and Coloristic Effects. Each of these subchapters provides explanatory information, as well as some of the most characteristic passages presented.