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Chancellor \ch(an)-cellor, chance(l)-lor\ as a boy's name is pronounced CHAN-sa-ler. It is of French and Middle English origin, and the meaning of Chancellor is "office holder". Occupational name, surname and title of high office, as in the Lord Chancellor of England or the chancellor of a university. Broadcaster John Chancellor. Chancellor has 4 variant forms: Chance, Chancelor, Chansellor and Chaunce. For more information, see also the related name Chauncey. View a list of the 3 names that reference Chancellor.