We report on Adaptive Optics observations of the satellite of Asteroid 121 Hermione with the ESO-Paranal UT4 VLT and the Keck AO telescopes. The binary system, belonging to the Cybele family, was observed during two observing campaigns in January 2003 and January 2004 aiming to confirm its trajectory and accurately determine its orbital elements. A precessing Keplerian model was used to describe the motion of S/2002 (121) 1. We find that the satellite of Hermione revolves at a=768±11 km from the primary in P=2.582±0.002 days with a roughly circular and prograde orbit ( e=0.001±0.001, i=3±2° w.r.t. equator primary). These extensive astrometric measurements enable us to determine the mass of Hermione to be 0.54±0.03×10 kg and its pole solution ( λ=1.5°±2.00, β=10°±2.0 in ecliptic J2000). Additional Keck AO observations taken close to the asteroid opposition in December 2003 give us direct insight into the structure of the primary which presents a bilobated shape. Since the angular resolution is limited to the theoretical angular resolution of the telescope (43 mas corresponding to a spatial resolution of 80 km), two shape models (called snowman and peanut) are proposed based on the images which were deconvolved with MISTRAL deconvolution process. Assuming a purely synchronous orbit and knowing the mass of the primary, the peanut shape composed of two separated components is quite unlikely. Additionally the J calculated from the analysis of the secondary orbit is not in agreement with the peanut model, but close to the snowman shape. The bulk density of the primary as derived from the observed size of the snowman shape is estimated to ρ˜1.8±0.2 g/cm implying a porosity ˜14% for this C-type asteroid, corresponding to a fractured asteroid. Considering the IRAS diameter, the density is lower ( ρ=1.1±0.3 g/cm) leading to a high porosity ( p=30-60%) with a nominal value of p=48%, which indicates a completely loose rubble-pile structure for the primary. Further work is necessary to better constrain the size, shape, and then internal structure of Hermione's primary.