Fellowship meaning : A company of people that share the same interest or aim. Company, companions; a group of people or things following another. A feeling of friendship, relatedness or connection between people. A merit-based scholarship. A temporary position at an academic institution with limited teaching duties and ample time for research; this may also be called a postdoc. A period of supervised, sub-specialty medical training in the United States and Canada that a physician may undertake after completing a specialty training program or residency. The proportional division of profit and loss among partners. To admit to fellowship, enter into fellowship with; to make feel welcome by showing friendship or building a cordial relationship. Now only in religious use. To join in fellowship; to associate with.