Source : Webster's Revised Unabridged Dictionary (1913)

Lanolin \Lan"o*lin\, n. [L. lana wool + oleum oil.] (Physiol.
   Chem.)
   A peculiar fatlike body, made up of cholesterin and certain
   fatty acids, found in feathers, hair, wool, and keratin
   tissues generally.

   Note: Under the same name, it is prepared from wool for
         commercial purposes, and forms an admirable basis for
         ointments, being readily absorbed by the skin.

Source : WordNet®

lanolin
     n 1: a yellow viscous animal oil extracted from wool; a mixture
          of fatty acids and esters; used in some ointments and
          cosmetics [syn: {wool fat}, {wool grease}]
     2: an emollient containing wool fat (a fatty substance obtained
        from the wool of sheep)