French Meaning: The name Louella is a French baby name. In French the meaning of the name Louella is: Famous warrior. Renowned fighter. Latin Meaning: The name Louella is a Latin baby name. In Latin the meaning of the name Louella is: Make amends.merican Meaning: The name Louella is an American baby name. In American the meaning of the name Louella is: Famous elf. Also a compound of the names Lou and Ella.