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It is to laugh so much you orgasm.
Whats that mess over my new carpet?
John just had lolgasms.
Lolgasms by TheKingOfThisWord January 28, 2009
Related Words
the climax of a lollified experience
right around "then he popped out of the bushes and was like HEADSHOT!" is when I achieved lolgasm.

Loebgasm 

A word used to describe an obsession over somebody you are currently spending time with.
I had a total loebgasm last night with you.
Loebgasm by ninerfan17 May 22, 2011

Logasmic 

When something someone named Logan does thats amazing, it is Logasmic.
Logan: Dude I jump kicked over a huge ass garbage can yesterday

Babe: Thats logasmic!
Logasmic by Logan Serman December 8, 2006

lolgasmic 

Simply meaning, fucking hilarious.
No pun intended. :P
Guy 1; Oh lord of the fail, take Imi's soul and fail it hard and fast, to the depths of failhell, Amen.
CAN I GET A HALLELUJAH?!
Guy 2; HALLELUJAH! That's lolgasmic!
lolgasmic by Caitjuss January 23, 2009
an abrupt fit of laughing, usually involuntary
"OMG that was so funny i might have a LOLgasm"
LOLgasm by big_ben100 July 28, 2009