Empirical and phenomenological-based models are used to represent biological and physiological processes. Phenomenological models are derived from the knowledge of the mechanisms that underlie the behavior of the system under study, while empirical models are derived from data analysis to quantify relationships between variables of interest. For studying biological systems, the phenomenological modeling approach offers the great advantage of having a structure with variables and parameters with physical meaning that enhance the interpretability of the model and its further use for decision making. The interpretability property of models, however, remains a vague concept. In this study, we addressed the interpretability property for parameters of phenomenological-based models. To our knowledge, this property has not been deeply discussed, perhaps by the implicit assumption that interpretability is inherent to phenomenological-based models. We propose a conceptual framework to address parameter interpretability and its implications for parameter identifiability, using a simple but relevant model representing the enzymatic degradation of β−casein by a Lactococcus lactis bacterium. We illustrated the usefulness of integrating parameter interpretability in the process of construction and exploitation of phenomenological models.