The Collaborative International Dictionary of English v.0.48:

Jubilation \Ju`bi*la"tion\, n. [L. jubilatio: cf. F.
   jubilation.]
   A triumphant shouting; rejoicing; exultation. "Jubilations
   and hallelujahs." --South.
   [1913 Webster]

WordNet (r) 3.0 (2006):

jubilation
    n 1: a feeling of extreme joy [syn: exultation, jubilance,
         jubilancy, jubilation]
    2: a joyful occasion for special festivities to mark some happy
       event [syn: celebration, jubilation]
    3: the utterance of sounds expressing great joy [syn:
       exultation, rejoicing, jubilation]