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1.
A fictional idea, that a guy can spray himself with some crappy scent and suddenly women are drawn to him like Oprah to fries. The term is synonymous with complete crap.
Bob: Hey Joe, did you hear? I won the lottery!

Joe: Oh yeah? I didn't know you had the Axe effect!
by Pareeha2 May 07, 2006
 
2.
When someone huffs Axe body spray to achieve a high.
Man, I saw Tarell huffing Axe last night. Nigga was on that Axe effect.
by Big Blue Bob February 24, 2008
 
3.
when someone is good-looking people are drawn to them.
John has the axe effect cause the girls are all over him.
by Becky Bell April 26, 2006