From AikiWiki - AikiWeb Aikido Information
[edit] Shihan: 師範
A formal title meaning, approximately, "master instructor." A "teacher of teachers."
AikiWeb Article: http://www.aikiweb.com/language/goldsbury1.html
The word SHIHAN contains the two Japanese characters romanized as "shi" and "han". The characters are: "shi" meaning master or teacher and "han" meaning model or example.