We investigate minimum vertex degree conditions for $3$-uniform hypergraphs which ensure the existence of loose Hamilton cycles. A loose Hamilton cycle is a spanning cycle in which only consecutive edges intersect and these intersections consist of precisely one vertex. We prove that every $3$-uniform $n$-vertex ($n$ even) hypergraph $\mathcal{H}$ with minimum vertex degree $δ_1(\mathcal{H})\geq \left(\frac7{16}+o(1)\right)\binom{n}{2}$ contains a loose Hamilton cycle. This bound is asymptotically best possible.