High-quality dielectric data for monoethanolamine (MEA)/water mixtures covering the entire miscibility range are presented. For MEA concentrations c1 ≥ 1 M the obtained complex permittivity spectra, covering the frequency range from 0.05 to 89 GHz, are best described by a sum of four Debye relaxations. Modes at ∼3 GHz and ∼10 GHz are solute-specific. Whilst the first can be assigned to MEA aggregates, the second is a composite arising from "free" MEA dipoles with dynamically retarded water hydrating them. The relaxations at ∼18 GHz and ∼200 GHz essentially reflect the cooperative H-bond fluctuations of more-or-less unperturbed "bulk" water, albeit with minor solute contributions. Evaluation of the bulk-water amplitude reveals that in water-rich mixtures (c1 ≤ 3.5 M) Zt = 3.5 ± 0.2 H2O molecules hydrate a MEA molecule. Then Zt drops linearly, reaching zero for neat MEA. Supported by the literature, this concentration dependence suggests that only H2O molecules H-bonded to the NH2 and OH groups of MEA contribute to Zt. At concentrations beyond hydration shell overlap (c1 ≥ 3.5 M) these H-bonds are gradually eliminated, while new interactions with neighboring MEA molecules are formed. From the evaluation of the MEA-specific amplitudes we conclude that for c1 ≥ 2 M, including neat MEA, ∼35% of the solute molecules are in aggregates, where breaking the intermolecular NH⋯O hydrogen bond determines the dynamics.