The Collaborative International Dictionary of English v.0.48:

Paraffin \Par"af*fin\ (p[a^]r"[a^]f*f[i^]n), Paraffine
\Par"af*fine\ (p[a^]r"[a^]f*f[i^]n or p[a^]r"[a^]f*f[=e]n), n.
   [F. paraffine, fr. L. parum too little + affinis akin. So
   named in allusion to its chemical inactivity.] (Chem.)
   A white waxy substance, resembling spermaceti, tasteless and
   odorless, and obtained from coal tar, wood tar, petroleum,
   etc., by distillation. It is used in candles, as a sealing
   agent (such as in canning of preserves), as a waterproofing
   agent, as an illuminant and as a lubricant. It is very inert,
   not being acted upon by most of the strong chemical reagents.
   It was formerly regarded as a definite compound, but is now
   known to be a complex mixture of several higher hydrocarbons
   of the methane or marsh-gas series; hence, by extension, any
   substance, whether solid, liquid, or gaseous, of the same
   chemical series; thus gasoline, coal gas and kerosene consist
   largely of paraffins.
   [1913 Webster +PJC]

   Note: In the present chemical usage this word is spelled
         paraffin, but in commerce it is commonly spelled
         paraffine.
         [1913 Webster]

   Native paraffin. See Ozocerite.

   Paraffin series. See Methane series, under Methane.
      [1913 Webster]

WordNet (r) 3.0 (2006):

paraffin
    n 1: from crude petroleum; used for candles and for preservative
         or waterproof coatings [syn: paraffin, paraffin wax]
    2: a series of non-aromatic saturated hydrocarbons with the
       general formula CnH(2n+2) [syn: methane series, alkane
       series, alkane, paraffin series, paraffin]
    3: (British usage) kerosine [syn: paraffin, paraffin oil]