This word is a different form of the often used 'lol'. However, this version is an abbreviation of 'Laugh OutZtandingly Loud'.

This is expected to overtake 'lol' as the most widley used laughing abbreviation on instant messengers.
"Emily and George are the coolest beanz in the tin LOZL"
by George Van Renselar December 3, 2006
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Laughing out Zestfully Loud; which is derived from the original: LOL
Nick lozled as he flicked a straw full of soda at Steve's face.
by S December 23, 2004
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Shortened form of lozzel, sorta like rofl, only cooler.
by frinkeh August 27, 2003
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A mistyping of "lolz" which means a plural of laugh out loud. For some reason it has stuck on the internet.
Dave12334: lozl this joke is so funy!
imagenius: It's "lolz" retard.
by Dick Townsend April 5, 2009
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Computer speak for: Legend of Zelda laugh. That little laugh that either Link or Zelda do in some of the newer Zelda games.
screennamea: and then I said "but officer, you're the one holding the bag"

screennameb: lozl, nice joke.
by Lord Squishy August 28, 2006
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The rubber band placed around the mouth to control the flow of Lolz.
I was loling so hard that I had to put on my lozl.
by Tapemaster21 March 19, 2008
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Common type-o for the computer speak word "lolz"
by Brandon159 August 18, 2007
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