The paper analyses the main trends in modern Russian historiography on the study of historical signi cance of the reforms of S.Yu. Witte. The paper shows that the works of Russian researchers have developed a wide range of historiographical assessments of the course and consequences of the “Witte” modernization, both positive and negative. The paper also notes that the study of Russian history by Russian researchers of the late XIX - early XX centuries within the framework of the modernization paradigm and their attempts to apply theoretical research in practice gave rise to two main interpretative models of historical understanding of these reforms - pessimistic and optimistic. In addition, giving a general assessment of S.Yu. Witte's reforms, modern Russian historiography highlights a growing dispute about the actors of late imperial modernization. Within the frame-work of this academic discussion, two main approaches have developed - monoactor approach, which proves dominant role of the state in the process of Russian modernization, and multiactor approach, which focuses on the creative role of not only the state, but also other driving forces of the modernization transition. The paper concludes that discussions on the problems of late Imperial transformations are far from over - they are gaining new momentum and bring balanced and broad assessments of the reform activity of S.Yu. Witte.