1. Interjection (kandoushi), Noun, Suru verb, Intransitive verb

   banzai; hurray; hurrah; hooray

   celebratory cheer; trad. shouted while raising both arms in the air

   彼が金メダルをとったという知らせをきき、私たちは万歳と叫んだ。

2. Noun

   something to cheer about; something worthy of celebration

3. Noun, Suru verb, Intransitive verb

   giving up; throwing one's hands up

4. Noun

   eternal life and prosperity

Also written 万才【ばんざい】banzai