Pedagogical research is based on specific views on the nature of truth and reality, which means that every research has its methodological orientation that determines the research approach and procedure. As the investigation of the methodological approaches provides an insight into the world of pedagogical research, it indirectly provides an insight into the current state of affairs in pedagogical theory and practice. Hermeneutical approach to research is one of the methodological approaches in pedagogy that has been unfairly neglected. The aim of this paper is to point to the significance, outreach, and the possibility of applaying this method in pedagogical research. Starting from the nature of pedagogical phenomena, the paper analyzes the basic assumtions of hermeneutics from the perspective of its implementation in researching pedagogical issues. The author emphasizes the importance of a deeper insight into specific phenomena, events, and processes, as well as the need for this approach and the possibilities of applying hermeneutical circle not only in pedagogical research, but also in pedagogical practice. The importance of analyzing this approach is also reflected in the fact that qualitative research, more or less explicitly, is mostly based on the foundations of this approach.