The Collaborative International Dictionary of English v.0.48:

Noel \No"el\ (n[=o]"[e^]l), n. [F. no["e]l, L. natalis birthday,
   fr. natalis natal. See Natal.]
   Same as Nowel.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Nowel \Now"el\, n. [See Noel.] [Written also noel.]
   [1913 Webster]
   1. Christmas; also, a shout of joy at Christmas for the birth
      of the Savior. [Obs.]
      [1913 Webster]

   2. (Mus.) A kind of hymn, or canticle, of mediaeval origin,
      sung in honor of the Nativity of our Lord; a Christmas
      carol. --Grove.
      [1913 Webster]

WordNet (r) 3.0 (2006):

Noel
    n 1: period extending from Dec. 24 to Jan. 6 [syn: Christmas,
         Christmastide, Christmastime, Yule, Yuletide,
         Noel]