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1. Widely known and esteemed
   "a celebrated musician";
   - famed, far-famed, famous, illustrious, notable, noted, renowned, big-name [informal]
    
2. Having an illustrious past
   - historied, storied

1. Behave as expected during holidays or rites
   "celebrate Christmas";
   - observe, keep
    
2. Have a celebration
   "After the exam, the students were celebrating";
   - fete, fête
    
3. Assign great social importance to
   "The film director was celebrated all over Hollywood";
   - lionize, lionise [Brit]

See also: glorious, known

Type of: abide by, get together, honor [US], honour [Brit, Cdn], meet, observe, respect

Encyclopedia: Celebrate