The article presents an axiologically oriented linguistic hermeneutic interpretation of Margarita s image from M. A. Bulgakov s novel "The Master and Margarita". The relevance of the article is due to both the ethical and scientific vulnerability of the unconditionally positive interpretation of the image that dominates school textbooks. The study aims to justify the disputability of this opinion and offer the author s own point of view. The research method was linguistic hermeneutics of a literary text. This methodology prioritises linguistic facts and, above all, lexical semantics. Based on the material of the complex image of Bulgakov s novel, the research substantiates the effectiveness of linguistic hermeneutics of a literary text as this method complements and corrects the results of literary text analysis. Meticulous attention is paid to the heroine s love. A textual contradiction was discovered between the explicit and implicit information concerning Margarita s love, which casts doubt on the interpretative version of school textbooks that idealise her love. The article proposes a linguistic justification for the image of Margarita as a demonic nature bearer, who was inherently predisposed to cooperate with Satan and, in a reckless pursuit of her beloved, became a servant of darkness. The main conclusions of the article can be summarised as follows: 1) Margarita s image should not be interpreted as unconditionally positive; 2) Margarita s personality does not correspond to the "psychological portrait" of a school-leaver; 3) Margarita s love is a means of rehabilitating her contact with unclean forces; 4) in the light of the value priorities of Russian culture, Margarita s love has devaluing characteristics.