decontrolPronunciation: /ˌdiːk(ə)nˈtrəʊl/Definition of decontrol verb (decontrols, decontrolling, decontrolled) [with object] release (a commodity, market, etc.) from controls or restrictions: there has been fierce debate over whether gas prices should be totally decontrolled noun [mass noun] the action of decontrolling something: the assumption that enterprise might flourish in the wake of decontroldecontrol in other Oxford dictionaries Definition of decontrol in the US English dictionary