Here's a breakdown:
* Te amo: "I love you"
* mi: "my"
* señor: "lord" or "master"
The phrase is often used in a romantic context, expressing a strong, passionate love for someone who is considered a "lord" or "master" in the relationship. It can also be used in a more formal setting, expressing love or respect for a superior or someone in a position of power.
It's important to note that this phrase can carry a lot of weight and should be used with care.