[n] someone honored for great achievements; figuratively someone crowned with a laurel wreath
[adj] worthy of the greatest honor or distinction; "The nation's pediatrician laureate is preparing to lay down his black bag"- James Traub
Misc. Definitions
\Lau"re*ate\, a. [L. laureatus, fr. laurea laurel tree, fr. laureus of laurel, fr. laurus laurel: cf. F. laur['e]at. Cf. {Laurel}.] Crowned, or decked, with laurel. --Chaucer. To strew the laureate hearse where Lycid lies. --Milton. Soft on her lap her laureate son reclines. --Pope. {Poet laureate}. (b) One who received an honorable degree in grammar, including poetry and rhetoric, at the English universities; -- so called as being presented with a wreath of laurel. [Obs.] (b) Formerly, an officer of the king's household, whose business was to compose an ode annually for the king's birthday, and other suitable occasions; now, a poet officially distinguished by such honorary title, the office being a sinecure. It is said this title was first given in the time of Edward IV. [Eng.]
\Lau"re*ate\, n. One crowned with laurel; a poet laureate. ``A learned laureate.'' --Cleveland.
\Lau"re*ate\, v. i. [imp. & p. p. {Laureated}; p. pr. & vb. n. {Laureating}.] To honor with a wreath of laurel, as formerly was done in bestowing a degree at the English universities.