The main claim of this paper is to show how Plato’s views on hermeneutike techne are more relevant to the contemporary discussions on hermeneutics than it is commonly regarded. We will elucidate and critically discuss whether Plato’s understanding of the grounds, methods and merits of the hermeneutics in the Protagoras is adequate, consistent and still relevant. Also, we will attempt to find out which position in the contemporary discussion of hermeneutics is the closest to Plato’s own ideas and claims on the essence and meaning of the art of interpretation.