Sarcasm is a state of speech in which the speaker says something that is externally unfriendly with a purpose of abusing/deriding the listener and/or a third person. Since sarcasm detection is mainly based on the context of utterances or sentences, it is hard to design a model to proficiently detect sarcasm in the domain of natural language processing (NLP). Despite the fact that various methods for detecting sarcasm have been created utilizing statistical machine learning and rule-based approaches, they are unable of discerning figurative meanings of words. The models developed using deep learning approaches have shown superior performance for sarcasm detection over traditional approaches. With this motivation, this paper develops novel deep learning (DL) enabled sarcasm detection and classification (DLE-SDC) model. The DLE-SDC technique primarily involves pre-processing stage which encompasses single character removal, multispaces removal, URL removal, stop word removal, and tokenization. Next to data preprocessing, the preprocessed data is converted into the feature vector by Glove Embeddings technique. Followed by, convolutional neural network with recurrent neural network (CNN-RNN) technique is utilized to detect and classify sarcasm. In order to boost the detection outcomes of the CNN+RNN technique, a hyper parameter tuning process utilizing teaching and learning based optimization (TLBO) algorithm is employed in such a way that the classification performance gets increased. The DLE-SDC model is validated using the benchmark dataset and the performance is examined interms of precision, recall, accuracy, and F1-score.