Entry 2 senses Webster, 1913 Towboat /tōb'-ōtˌ/ · Tow·boat · IPA /ˈtoʊˌboʊt/ 01 n. A vessel constructed for being towed, as a canal boat. 1. A vessel constructed for being towed, as a canal boat. 2. A steamer used for towing other vessels; a tug.