Summary: This article analyses the account of the conversion of St. Francis as narrated in the Legenda Maior by St. Bonaventure. Beginning with the brief historical facts that are found in the Testament, Bonaventure goes on to interpret the expression “begin to do penance” in the light of his own theology of grace. He presents a theological description and explanation of conversion of St. Francis following the pattern of the Confessions of St. Augustine, “Induire Dominum Jesum Christum”. It is the beginning of being transformed into Christ. The account of the conversion of St. Francis is inserted into the context of the Legenda, which constitutes a “theology of Francis” as the true forma minorum.