Ahlfred \a(h)-lf-red, ahl-fred\ as a boy's name is a variant of Alfred (Old English), and the meaning of Ahlfred is "elf or magical counsel". The baby name Ahlfred sounds like Ailfred, Elfred, Alfredo, Alfrey, Alfre, Ailfryd, Ailfrid, Walfred and Wilfred. Other similar baby names are Aldred, Alldred, Alured and Ailured.