The name Lily is an American baby name. In American the meaning of the name Lily is: Lily. Latin Meaning: The name Lily is a Latin baby name. In Latin the meaning of the name Lily is: Lily (after the flower).Pure. English Meaning: The name Lily is an English baby name. In English the meaning of the name Lily is: Lily flower. Pure. The flower lily is a symbol of innocence; purity and beauty.he name Lily is an American baby name. In American the meaning of the name Lily is: Lily. Latin Meaning: The name Lily is a Latin baby name. In Latin the meaning of the name Lily is: Lily (after the flower).