Abstract: The subject of this research is the correlation between the teachings on tragedy in the early period of philosophical writings of F. Nietzsche and his later criticism of the contemporary of European culture. It is noted that tragedy within the framework of Nietzschean philosophy is a broader concept that the genre of dramatic art, attaining the meaning of the cultural category and manifesting in the three interrelated aspects: life tragedy, scenic tragedy and cultural tragedy. The author demonstrates how in the context of studying the three types of tragedy, F. Nietzsche determines the origins of the future decline of European civilization back in Antiquity, reflected in the fact that the Apollonian beginning of culture expels the tragic worldview in Ancient Greece characteristic to Dionysianism. Pessimistic views of F. Nietzsche upon the European culture implied pursuing of ways to overcome the crisis. The scientific novelty consists in the ability to assess the Nietzschean ideological heritage on the topic, considering the historical transformations and current realities. The author comes to the conclusion that despite having the admittedly strong sides, cultural criticism of F. Nietzsche has not always been fair to Apollonianism; as well as demonstrates why Dionysianism cannot become a decent means of renewal and restoration of culture.