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The narrative theory of history that studies historical works from the viewpoint of their narrative, rhetorical devices, and ideological strategies highly emphasized the necessity of renewing historiography. In his early essays, the trend’s founding father, Hayden White, positioned history between art and science or fiction and reality and defined the role of historical theory as a kind of “critical historiography” that is both a criticism of actual historical works and a prescriptive theoretical approach with which the contemporary historical discipline can reform itself. This renewal basically meant a formal reorganization with which the historical works and the historical discipline itself could come closer to literature by using narrative methods and rhetorical devices of recent literary works and films. However, after the 1990s, White and his followers had to face some radical problems that compelled them to rethink the role of recent historiography and their theoretical positions as well. Firstly, the so-called “new” historiography did not actually come into existence, or at least not in a way they suggested. Secondly, new forms of “unofficial” history, from varieties of public history through conspiracy theories to contemporary historical fictions, forced to reconceptualize the task of historical theory and its approach to the social and ideological functions of “official” history. Analysing some recently published works of this trend (above all, Hayden White’s concept of “modernist event” and his distinction between two forms of the past, theoretical and practical), my essay tries to define the situation of historical theory among the forms of contemporary historical experience.