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1.
Otherwise seen as 31337, this is Geek Speak for the word, Elite. Often used online as a replacement for Elite.

see: leet
"That Game is 31337" (eleet)

(online) "Check out my 31337 Skills"
by Tenshi-Ryuu September 30, 2006
 
2.
A retard's misspelling of ELITE.
ima kewlerr then u an iman eleet haxor. lolololol
by anti-geek May 01, 2003
 
3.
a person who is respected by his peers
WireDDD is eleet
by John Doe April 30, 2003
 
4.
A pimp email address and url redirection
I got an eleet name email and website dude. Its from www.eleet.name
by bob January 20, 2004