Source : Webster's Revised Unabridged Dictionary (1913)

Panegyrize \Pan"e*gy*rize\, v. t. [imp. & p. p. {Panegyrized};
   p. pr. & vb. n. {Panegyrizing}.] [Gr. ?. See {Panegyrist}.]
   To praise highly; to extol in a public speech; to write or
   deliver a panegyric upon; to eulogize.

Panegyrize \Pan"e*gy*rize\, v. i.
   To indulge in panegyrics. --Mitford.