the branch of knowledge that deals with interpretation, especially of the Bible or literary texts.
a method or theory of interpretation.
… in philosophy
The term hermeneutics covers both the first order art and the second order theory of understanding and interpretation of linguistic and non-linguistic expressions. As a theory of interpretation, the hermeneutic tradition stretches all the way back to ancient Greek philosophy. In the course of the Middle Ages and the Renaissance, hermeneutics emerges as a crucial branch of Biblical studies. Later on, it comes to include the study of ancient and classic cultures. 
… in theology
Biblical hermeneutics is the study of the principles of interpretation concerning the books of the Bible. It is part of the broader field of hermeneutics which involves the study of principles of interpretation for all forms of communication, nonverbal and verbal.
Lexical-syntactical analysis: This step looks at the words used and the way the words are used. Different order of the sentence, the punctuation, the tense of the verse are all aspects that are looked at in the lexical syntactical method. Here, lexicons and grammar aids can help in extracting meaning from the text.
Historical/cultural analysis: The history and culture surrounding the authors is important to understand to aid in interpretation. For instance, understanding the Jewish sects of the Palestine and the government that ruled Palestine in New Testament times increases understanding of Scripture. And, understanding the connotations of positions such as the High Priest and that of the tax collector helps us know what others thought of the people holding these positions.
Contextual analysis: A verse out of context can often be taken to mean something completely different from the intention. This method focuses on the importance of looking at the context of a verse in its chapter, book and even biblical context.
Theological analysis: It is often said that a single verse usually doesn’t make a theology. This is because Scripture often touches on issues in several books. For instance, gifts of the Spirit are spoken about in Romans, Ephesians and 1 Corinthians. To take a verse from Corinthians without taking into account other passages that deal with the same topic can cause a poor interpretation.
Special literary analysis: There are several special literary aspects to look at, but the overarching theme is that each genre of Scripture has a different set of rules that applies to it. Of the genres found in Scripture, there are: narratives, histories, prophecies, apocalyptic writings, poetry, psalms and letters. In these, there are differing levels of allegory, figurative language, metaphors, similes and literal language. For instance, the apocalyptic writings and poetry have more figurative and allegorical language than does the narrative or historical writing. These must be addressed, and the genre recognized to gain a full understanding of the intended meaning.
2. Wikipedia contributors, “Biblical hermeneutics,” Wikipedia, The Free Encyclopedia, https://en.wikipedia.org/w/index.php?title=Biblical_hermeneutics&oldid=791349982 (accessed August 2, 2017).