Entry 1 sense Webster, 1913 Wastebasket /wās'-tbăsˌ-kət/ · Waste·bas·ket · IPA /wˈeɪstbˌæskət/ 01 n. A basket used in offices, libraries, etc., as a receptacle for waste paper. 1. A basket used in offices, libraries, etc., as a receptacle for waste paper.