The Collaborative International Dictionary of English v.0.48:

Exhilaration \Ex*hil`a*ra"tion\, n. [L., exhilaratio.]
   1. The act of enlivening the spirits; the act of making glad
      or cheerful; a gladdening.
      [1913 Webster]

   2. The state of being enlivened or cheerful.
      [1913 Webster]

            Exhilaration hath some affinity with joy, though it
            be a much lighter motion.             --Bacon.

   Syn: Animation; joyousness; gladness; cheerfulness; gayety;
        hilarity; merriment; jollity.
        [1913 Webster]

WordNet (r) 3.0 (2006):

exhilaration
    n 1: the feeling of lively and cheerful joy; "he could hardly
         conceal his excitement when she agreed" [syn:
         exhilaration, excitement]

Moby Thesaurus II by Grady Ward, 1.0:

109 Moby Thesaurus words for "exhilaration":
   a high, afflatus, aggravation, agitation, animating spirit,
   animation, animus, arousal, arousing, beatification, beatitude,
   bewitchment, blessedness, bliss, blissfulness, bracer, bracing,
   cheer, cheerfulness, cloud nine, cordial, delectation, delight,
   divine afflatus, ecstasy, ecstatics, elation, electrification,
   elevation, emotion, enchantment, energizing, enlivenment, euphoria,
   exacerbation, exaltation, exasperation, excitation, excitedness,
   excitement, exuberance, felicity, fire, firing, fomentation,
   gaiety, galvanization, genius, gladness, glee, good humor,
   good spirits, happiness, heaven, high spirits, incitement,
   infection, inflammation, infuriation, infusion, inspiration,
   intoxication, invigoration, irritation, joy, joyance, joyfulness,
   lathering up, manic state, moving spirit, overhappiness,
   overjoyfulness, paradise, perturbation, pick-me-up, provocation,
   quickening, rapture, rare good humor, ravishment, reanimation,
   recreation, refection, refreshing, refreshment, regale, regalement,
   reinvigoration, renewal, revitalization, revival, revivescence,
   revivescency, revivification, seventh heaven, steaming up,
   stimulation, stimulus, stirring, stirring up, sunshine, tonic,
   transport, unalloyed happiness, uplift, vitalization, vivification,
   whipping up, working up