Plain English Meaning
It is an instrument approach flown using GPS, where extra correction signals from ground stations make the GPS signal accurate enough to follow a published path down to the runway, often with both side-to-side and up-and-down guidance.
Full Definition
An area navigation instrument approach procedure that uses GPS satellite signals corrected by the Wide Area Augmentation System (WAAS) to provide lateral and, where published, vertical guidance to a runway. WAAS corrections improve GPS accuracy and integrity enough to support approaches with vertical guidance, including LPV and LNAV/VNAV , in to lateral-only minima.