She was described by Wendy Doniger as "the greatest living scholar of the RigVeda, and certainly the greatest linguist of the RigVeda". In 1972 she published a translation of selected Rigvedic hymns into Russian, which eventually evolved into a complete translation of Rigveda in the following decades, published by Nauka 1989-1999 (3 volumes). Her complete Russian translation of Atharvaveda was published in 2005-2010 (3 volumes).
In 1976, together with her husband Vladimir Nikolayevich Toporov, she published in English a linguistic analysis of Pali: The Pali Language. She was also an expert on Hindi, and published numerous works on its grammar.
Elizarenkova and Toporov were also the chief driving forces of Moscow-Tartu school of semiotics.
- Aorist v "Rigvede", 1950
- I︠A︡zyk pali, 1965
- Issledovanii︠a︡ po diakhronicheskoĭ fonologii indoariĭskikh i︠a︡zykov, 1974
- The Pāli language, 1976
- Grammatika vediĭskogo i︠a︡zyka, 1982
- Vediĭskiĭ i︠a︡zyk, 1987
- Language and style of the Vedic R̥ṣis, 1993
- Words and things in the R̥gveda, 1995
- Elizarenkova, Tatyana J. (1995), Language And Style Of The Vedic Rsis, Albany: State University of New York Press