本文從詮釋學的思潮切入，探討惠棟易學以漢代象數為標幟之下，體察其易學的時代性，嘗試用當代詮釋思潮中「歷史圖像」與詮釋學方法論作簡要檢視，並概括出其易學在現代詮釋學下的定位。同時從宏觀的經典闡釋角度，以進行反省與檢討，客觀地認識惠棟易學的時代意義。 惠棟易學的核心價值在於復原漢《易》的本來面貌，以求「真」與求「實」的價值追求，作為其「事實判斷」與「價值判斷」的核心所在。但是，惠棟對《周易》的解釋過於「純粹」、過於單面化，缺乏較具哲學思想的義理性內容，窄化了《周易》作為一部哲學性經典原本可以有更為複雜而多面的豐富內容。惠棟以純粹的象數作為論述內容，哲學性的表述張力不夠，不能受到普遍的重視與認同。惠棟關注文字詁訓的正確性與合理性的面向，將意蘊豐富的詮釋學問題轉化成較為簡單的文字訓詁學問題，難以達到詮釋的循環性之層次。惠棟通過語言與文獻的考古，其詮釋的價值或特色，主要在於《周易》經典的文本之復原、本義的確立，也就是《周易》古義的確立，以及實事求是的詮釋精神。

This study is to discuss Hui Dong Han Yi in the view of the hermeneutics, conceiving the contemporary annotation of Han Yi under the sign of the image-numbers in Han Dynasty. In modern hermeneutics trend, the author attends to define Han Yi with “the historical image” method and hermeneutics methodology, meanwhile, explores objectively the time significance of Han Yi from the macroscopic explanation angle by the introspection and the self-criticism. The core value of Hui Dong Han Yi lies in the restoration of the original appearance of Han Yi, striving for “real” and “true” value to build its foundation of “fact judgment” and “value judgment”. Hui Dong’s explanation of Chou Yi, lacking the rational content of philosophic elements, is too pure and simplified to be the philosophic classics. Hence, the pure content of the image-numbers cannot receive the universal value and approval. Hui Dong paid attention to the accuracy and rationality of explanations of words in ancient texts. He transformed the implicated hermeneutics question the simpler explanation questions, which is beneath the level of the cycle of hermeneutics. Hui Dong Han Yi is approved by the language and the literature archaeology. Its annotation value or characteristic is mainly from the restoration of the original text and meaning of Chou Yi. Namely, the very value of Hui Dong Han Yi lies in the establishment of the ancient meaning of Chou Yi and its realistic annotation spirit.