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Eldred \e-ld-red, el-dred\ as a boy's name is pronounced EL-dred. It is of Old English origin, and the meaning of Eldred is "old, venerable counsel". From Ealdraed. Saint Eldred (ninth century) was a Benedictine killed by Vikings. Eldred has 2 variant forms: Aldred and Eldrid. Baby names that sound like Eldred are Elldred, Alldred, Elder, Eldrege and Eldredge. View a list of the 2 names that reference Eldred.