ETYM Latin laureatus, from laurea laurel tree, from laureus of laurel, from laurus laurel: cf. French lauréat. Related to Laurel.
Worthy of the greatest honor or distinction.
Crowned with laurel wreath as prize or sign of distinction.

Someone honored for great achievements; figuratively someone crowned with a laurel wreath.
Such person, especially poet; prize-winner

1. To crown with or as if with a laurel wreath for excellence or achievement
2. To appoint to the office of poet laureate