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American Heritage® Dictionary of the English Language, Fourth Edition

1. v. To cross out with lines or other markings. See Synonyms at erase.
2. v. To annul or invalidate.
3. v. To mark or perforate (a postage stamp or check, for example) to indicate that it may not be used again.
4. v. To equalize or make up for; offset: Today's decline in stock price canceled out yesterday's gain.
5. v. Mathematics To remove (a common factor) from the numerator and denominator of a fractional expression.
6. v. Mathematics To remove (a common factor or term) from both sides of an equation or inequality.
7. v. Printing To omit or delete.
8. v. To neutralize one another; counterbalance: two opposing forces that canceled out.
9. n. The act or an instance of canceling; a cancellation.
10. n. Printing Deletion of typed or printed matter.
11. n. Printing The matter deleted.
12. n. Printing A replacement for deleted matter.

Century Dictionary and Cyclopedia

1. n. Latticework, or one of the cross-bars in latticework; a latticework or grated inclosure; hence, a barrier; a limit.
2. n. [⟨ cancel, v.] In printing, a page, sheet, or other part of a printed work suppressed and destroyed before publication; the act of rejecting a part of a printed work. The cancel ordered on the discovery of a fault in unpublished printed matter is usually followed by correct reprinting; but a cancel is sometimes made without reprinting.
3. n. [⟨ cancel, v.] In music, the sign ♯, when used to nullify the effect of a sharp or a flat previously occurring either in the signature or as an accidental.
4. To inclose with latticework or a railing.
5. To draw lines across (something written) so as to deface; blot out or obliterate: as, to cancel several lines in a manuscript.
6. To annul or destroy; make void; set aside: as, to cancel a debt or an engagement.
7. In mathematics, to strike out or eliminate, as a number or quantity constituting a common factor in a dividend and divisor or the numerator and denominator of a fraction, or a common term in the two members of an equation.
8. In printing, to strike out, reject, or throw aside, as some portion of a printed work.
9. In music, to suspend the power of (a sharp or a flat) by inserting the sign ♯. Synonyms Erase, Expunge, etc. (see efface), strike out; destroy, scratch out, rub out, wipe out.
10. Repeal, Rescind, etc. See abolish.
11. To become obliterated or void.
12. n. An order canceling or countermanding a previous order.
13. In printing, to mark on copy or proof (words or lines that are to be omitted).
14. In bookbinding, to destroy (a leaf or section that is to be entirely suppressed).

Wiktionary

1. v. transitive To cross out something with lines etc.
2. v. transitive To invalidate or annul something.
3. v. transitive To mark something (such as a used postage stamp) so that it can't be reused.
4. v. transitive To offset or equalize something.
5. v. transitive (mathematics) To remove a common factor from both the numerator and denominator of a fraction, or from both sides of an equation.
6. v. transitive (media) To stop production of a programme.
7. n. A cancellation (US); (nonstandard in some kinds of English).
8. n. obsolete An inclosure; a boundary; a limit.
9. n. printing The suppression on striking out of matter in type, or of a printed page or pages.

GNU Webster's 1913

1. v. obsolete To inclose or surround, as with a railing, or with latticework.
2. v. obsolete To shut out, as with a railing or with latticework; to exclude.
3. v. To cross and deface, as the lines of a writing, or as a word or figure; to mark out by a cross line; to blot out or obliterate.
4. v. To annul or destroy; to revoke or recall.
5. v. (Print.) To suppress or omit; to strike out, as matter in type.
6. n. obsolete An inclosure; a boundary; a limit.
7. n. The suppression or striking out of matter in type, or of a printed page or pages.
8. n. The part thus suppressed.

WordNet 3.0

1. v. remove or make invisible
2. v. postpone indefinitely or annul something that was scheduled
3. n. a notation cancelling a previous sharp or flat
4. v. make invalid for use
5. v. make up for
6. v. declare null and void; make ineffective