Yacht /(yŏt)/ Yacht n. A light and elegantly furnished vessel, used either for private parties of pleasure, or as a vessel of state to convey distinguished persons from one place to another; a seagoing vessel used only for pleasure trips, racing, etc. (Naut.) Phrases & Compounds Yacht measurement See the Note under Tonnage, 4. Yacht v. i. To manage a yacht; to voyage in a yacht.