The Collaborative International Dictionary of English v.0.48:

Spellbind \Spell"bind`\, v. t. [imp. & p. p. Spellbound; p.
   pr. & vb. n. Spellbinding.]
   To bind or hold by, or as if by, a spell or charm; to
   entrance or fascinate, esp. by eloquence of speech, as in a
   political campaign. -- Spell"bind`er, n.
   [Webster 1913 Suppl.]

WordNet (r) 3.0 (2006):

spellbind
    v 1: to render motionless, as with a fixed stare or by arousing
         terror or awe; "The snake charmer fascinates the cobra"
         [syn: fascinate, transfix, grip, spellbind]
    2: attract strongly, as if with a magnet; "She magnetized the
       audience with her tricks" [syn: magnetize, mesmerize,
       mesmerise, magnetise, bewitch, spellbind]
    3: put into a trance [syn: entrance, spellbind]