The Collaborative International Dictionary of English v.0.48:

Materialize \Ma*te"ri*al*ize\, v. t. [imp. & p. p.
   Materialized; p. pr. & vb. n. Materializing.] [Cf. F.
   mat['e]rialiser.]
   1. To invest with material characteristics; to make
      perceptible to the senses; hence, to present to the mind
      through the medium of material objects.
      [1913 Webster]

            Having with wonderful art and beauty materialized,
            if I may so call it, a scheme of abstracted notions,
            and clothed the most nice, refined conceptions of
            philosophy in sensible images.        --Tatler.
      [1913 Webster]

   2. To regard as matter; to consider or explain by the laws or
      principles which are appropriate to matter.
      [1913 Webster]

   3. To cause to assume a character appropriate to material
      things; to occupy with material interests; as, to
      materialize thought.
      [1913 Webster]

   4. (Spiritualism) To make visable in, or as in, a material
      form; -- said of spirits.
      [1913 Webster]

            A female spirit form temporarily materialized, and
            not distinguishable from a human being. --Epes
                                                  Sargent.
      [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Materialize \Ma*te"ri*al*ize\, v. i.
   1. To appear as a material form; to take substantial shape.
      [Colloq.]
      [1913 Webster]

   2. To come into existence; as, the promised donations never
      materialized.
      [PJC]

WordNet (r) 3.0 (2006):

materialize
    v 1: come into being; become reality; "Her dream really
         materialized" [syn: happen, materialize, materialise]
         [ant: dematerialise, dematerialize]

Moby Thesaurus II by Grady Ward, 1.0:

146 Moby Thesaurus words for "materialize":
   affect, appear, approach, arise, be found, be realized,
   be revealed, become manifest, become visible, betoken,
   betray itself, body, body forth, brandish, breathe, bring forth,
   bring forward, bring into view, bring out, bring to notice, chance,
   come, come along, come forth, come forward, come in sight,
   come into being, come into existence, come on, come out,
   come to hand, come to light, come to pass, concretize, constitute,
   corporealize, corporify, crop out, crop up, dangle, demonstrate,
   develop, disclose, discover itself, display, divulge, dramatize,
   draw on, effect, effectuate, embody, emerge, enact, enter, entify,
   establish, evidence, evince, exhibit, expose to view, express,
   exteriorize, externalize, fade in, flaunt, flourish, form, found,
   give sign, give token, hang out, happen, have no secrets,
   heave in sight, highlight, hypostatize, illuminate, inaugurate,
   incarnate, incept, incorporate, indicate, install, institute,
   issue, issue forth, lend substance to, look forth, loom,
   make clear, make plain, manifest, mean, objectify, occur, open up,
   organize, outcrop, parade, peep out, perform, personalize,
   personify, pop up, present, present itself, produce, realize,
   rear its head, reembody, reify, reincarnate, represent, reveal,
   rise, roll out, see the light, set forth, set up, shape, shape up,
   show, show forth, show up, solidify, speak out, speak up,
   spotlight, spring, spring up, stream forth, strike the eye,
   substantialize, substantiate, substantify, take a stand, take form,
   take place, take shape, token, transmigrate, trot out, turn up,
   typify, unfold, wave