The Collaborative International Dictionary of English v.0.48:

Laurel \Lau"rel\, n. [OE. lorel, laurer, lorer, OF. lorier,
   laurier, F. laurier, (assumed) LL. Laurarius, fr. L. laurus.]
   1. (Bot.) An evergreen shrub, of the genus Laurus (Laurus
      nobilis), having aromatic leaves of a lanceolate shape,
      with clusters of small, yellowish white flowers in their
      axils; -- called also sweet bay.

   Note: The fruit is a purple berry. It is found about the
         Mediterranean, and was early used by the ancient Greeks
         to crown the victor in the games of Apollo. At a later
         period, academic honors were indicated by a crown of
         laurel, with the fruit. The leaves and tree yield an
         aromatic oil, used to flavor the bay water of commerce.
         [1913 Webster]

   Note: The name is extended to other plants which in some
         respect resemble the true laurel. See Phrases, below.
         [1913 Webster]

   2. A crown of laurel; hence, honor; distinction; fame; --
      especially in the plural; as, to win laurels.
      [1913 Webster]

   3. An English gold coin made in 1619, and so called because
      the king's head on it was crowned with laurel.
      [1913 Webster]

   Laurel water, water distilled from the fresh leaves of the
      cherry laurel, and containing prussic acid and other
      products carried over in the process.
      [1913 Webster]

   American laurel, or Mountain laurel, Kalmia latifolia;
      called also calico bush. See under Mountain.

   California laurel, Umbellularia Californica.

   Cherry laurel (in England called laurel). See under
      Cherry.

   Great laurel, the rosebay (Rhododendron maximum).

   Ground laurel, trailing arbutus.

   New Zealand laurel, the Laurelia Nov[ae] Zelandi[ae].

   Portugal laurel, the Prunus Lusitanica.

   Rose laurel, the oleander. See Oleander.

   Sheep laurel, a poisonous shrub, Kalmia angustifolia,
      smaller than the mountain laurel, and with smaller and
      redder flowers.

   Spurge laurel, Daphne Laureola.

   West Indian laurel, Prunus occidentalis.
      [1913 Webster]

WordNet (r) 3.0 (2006):

California laurel
    n 1: Pacific coast tree having aromatic foliage and small
         umbellate flowers followed by olivelike fruit; yields a
         hard tough wood [syn: California laurel, California bay
         tree, Oregon myrtle, pepperwood, spice tree,
         sassafras laurel, California olive, mountain laurel,
         Umbellularia californica]