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Abstract: The subject of the article is modernization of modern music education based on the ideas of existential philosophy and musical hermeneutics. The goal is philosophical-methodological substantiation of the principles of modernization of contemporary music education. It is proved that it is important to develop musical hermeneutics with regard to phenomenology of music and its perception in the process of artistic communication based on existential human experience of an interpreter of music. The theoretical significance of the study lies in justification of philosophical and anthropological principles of modern music education and emphasis on the importance of musical hermeneutics as its methodological and methodical tools. The study has practical significance as it proposes a methodology of formation of existential relationship to music in vocational education of Bachelors and Masters of the program "Art music". Existential relationship to music is a means of personal development in the universe of value relations, implemented in the process of organized artistic communication.