The article concerns the work of Gerhard Oberhammer, one of the most famous German-speaking Indologists and philosophers of the 20th century. Besides the studies on the sacred texts of the religious traditions of Ancient India, Oberhammer wrote a number of articles devoted to the consideration of more general philosophical and religious issues. On the basis of indological material, Oberhammer develops a universal method (transcendental hermeneutics) of studying and analyzing both the religious experience of individuals and the religious traditions that appear and develop on its ground. This article discusses in detail some of the general philosophical presuppositions of the transcendental religious hermeneutics method formed by Oberhammer, analyzes the philosophical and theological context of Oberhammer’s work, identifies sources of possible influence on the arising and development of Oberhammer’s thought. In the course of the comparison, the author highlights traits of similarities and differences between the philosophical views of Oberhammer and the philosophy and theology of Karl Rahner. The article contains a translated from German fragment of the Oberhammer’s program article Versuch einer transzendentalen Hermeneutik religioser Traditionen. © 2021 Ludmila E. Kryshtop.