Definition of hedge. 1  1 : of, relating to, or designed for a hedge (see 1hedge) a hedge plant hedge selling on the commodity exchanges. 2  2 : born, living, or made alongside or as if alongside a dense row of shrubs or low trees : born, living, or made near or as if near hedges (see 1hedge 1a) : roadside the services of a hedge parson a hedge wedding.