• ALBUTEROL (noun). The noun ALBUTEROL has 1 sense: 1. a bronchodilator (trade names Ventolin or Proventil) used for asthma and emphysema and other lung conditions; available in oral or inhalant forms; side effects are tachycardia and shakiness. Familiarity information: ALBUTEROL used as a noun is very rare. Dictionary entry details. • ALBUTEROL (noun).