Lit Share definition Flag It's a slang word that used to mean strong intoxication until, in mid 2016, it suddenly meant "Awesome". This new term became popular slang in less than a week. "Cool" Teacher:Let's get lit. Billy:*pulls out vodka* "Cool"Teacher:YOU'RE SUSPENDED. Lit by A Wise Donkey July 21, 2016 Get the Lit mug.