vande - I offer my respectful obeisances; śrī-kṛṣṇa-caitanyam - unto Lord Śrī Caitanya Mahāprabhu; kṛṣṇa-bhāva-amṛtam - the nectar of ecstatic love of Kṛṣṇa; hi - certainly; yaḥ - He who; āsvādya - tasting; āsvādayan - causing to taste; bhaktān - the devotees; prema - in love of Kṛṣṇa; dīkṣām - initiation; aśikṣayat - instructed.

Let me offer my respectful obeisances unto Śrī Caitanya Mahāprabhu, who personally tasted the nectar of ecstatic love for Kṛṣṇa and then instructed His devotees how to taste it. Thus He enlightened them about ecstatic love of Kṛṣṇa to initiate them into transcendental knowledge.