The article is related to the collection of the hadith qudsi that is the most popular one in Russia — the “40 Hadith Qudsi”. Its authorship is erroneously attributed to Ali Fikri Yavuz who had just translated the text from Arabic into Turkish. The purpose of the given article is a detailed analysis of this collection, in addition to the identification of its original author and the study of the used sources. The research presented in the article is purely textological and also includes the comparison of the examined collection to the other compilations of the hadith qudsi. Moreover, the article comprises the analysis of the rhymed prose represented in the Yavuz collection. The main issue that the author raises may be formulated as follows: may the examined collection be just a compendium of the hadith qudsi or is it an independent literary work?