The book extensively describes the alleged travels of Apollonius to Italy, Hispania, Nubia, Syria, Mesopotamia, and India. Some scholars view it as fiction and contend that Apollonius probably never reached any of these countries, but spent his entire life in the East of the Roman Empire.

According to Philostratus, his book relies on a multiplicity of sources:

A book on the youth of Apollonius, written by Maximus of Aegae Memoirs written by a disciple of Apollonius, Damis. The "Memorabilia of Apollonius of Tyana, magician and philosopher", was written by Moeragenes, although Philostratus considers that account rather unreliable. Local knowledge comes from towns like Ephesus, Tyana, Aegae, and Antioch.

Apollonius' exceptional personality and his mystical way of life, which was regarded as exemplary, impressed his contemporaries and had a lasting cultural influence. Numerous legends surrounding him and accounts of his life are contained in the extensive Life of Apollonius, which collects a large part of the legendary material about Apollonius' life and work. A large part of the ancient legends of Apollonius consists of numerous reports about miracles that he was said to have performed as a wandering sage with his lifelong companion Damis.

He was tried for allegedly having used magic as a means of conspiring against the emperor; after his conviction and subsequent death-penalty, his followers believed he underwent heavenly ascension] Most modern scholars of antiquity agree that Apollonius existed historically.