OZ Meaning of OZ in English transcription, транскрипция: [ ˈäz ]nounEtymology: from Oz , mythical land in a series of books by L. Frank Baum Date: 1936: an ideal or fantastical place Merriam-Webster's Collegiate English vocabulary. Энциклопедический словарь английского языка Merriam Webster. 2003