A modification of the well-known step-by-step process for solving Nevanlinna-Pick problems in the class of R 0 -functions gives rise to a linear pencil H −λJ , where H and J are Hermitian tridiagonal matrices. First, we show that J is a positive operator. Then it is proved that the corresponding Nevanlinna-Pick problem has a unique solution iff the densely defined symmetric operator J − 1 2 H J − 1 2 is self-adjoint and some criteria for this operator to be self-adjoint are presented. Finally, by means of the operator technique, we obtain that multipoint diagonal Padé approximants to a unique solution ϕ of the Nevanlinna-Pick problem converge to ϕ locally uniformly in C \ R. The proposed scheme extends the classical Jacobi matrix approach to moment problems and Padé approximation for R 0 -functions.