fayalitePronunciation: /ˈfeɪəlʌɪt/Definition of fayalite noun [mass noun] a black or brown mineral which is an iron-rich form of olivine and occurs in many igneous rocks. Origin: mid 19th century: from Fayal (the name of an island in the Azores) + -ite1fayalite in other Oxford dictionaries Definition of fayalite in the US English dictionary