The Collaborative International Dictionary of English v.0.48:
Dilution \Di*lu"tion\, n. [Cf. F. dilution.] The act of diluting, or the state of being diluted. --Arbuthnot. [1913 Webster]WordNet (r) 3.0 (2006):
dilution n 1: a diluted solution 2: weakening (reducing the concentration) by the addition of water or a thinner [ant: concentration]