caravel /ˈkæɹəvɛl/ noun1 •(historical) A light, usually lateen-rigged sailing ship used by the Portuguese and Spanish for about 300 years from the 15th century, first for trade and later for voyages of exploration.At present these trees are not very numerous, as the Turks make use of them to build the Grand Signior's caravelles, and cut down without ever planting. — 1788 formscaravels