Entry 2 senses · 2 variants Webster, 1913 Penultimate /pĕn-ŭl'-təm-ət/ · Pe·nul·ti·mate · IPA /pəˈnəltəmət/ a. n. 01 a. Last but one; as, the penultimate syllable, the last syllable but one of a word. 1. Last but one; as, the penultimate syllable, the last syllable but one of a word. 02 n. The penult. 1. The penult.