The study participates in the ongoing discussion of the relationship between hermeneutics and exegesis. A review of the main aspects of the discussion, the meanings of both terms, and key influences in modern biblical criticism reveals that hermeneutics is an operating fundamental in both ‘exegesis’ and ‘hermeneutics’. The study consequently proposes ‘exegetical hermeneutics’ as an integrative methodology which would place exegesis at the service of hermeneutics. Jesus’ use of parables models the salient aspects of the proposed ‘exegetical hermeneutics’. A concluding section highlights the implications of the proposed approach for NT scholarship.