Etymology
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lanolin (n.)

fatty matter extracted from sheep's wool, 1885, from German Lanolin, coined by German physician Mathias Eugenius Oscar Liebreich (1838-1908) from Latin lana "wool" (from PIE root *wele- (1) "wool;" see wool) + oleum "oil, fat" (see oil (n.)) + chemical suffix -in (2).

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Definitions of lanolin

lanolin (n.)
a yellow viscous animal oil extracted from wool; a mixture of fatty acids and esters; used in some ointments and cosmetics;
Synonyms: wool fat / wool grease
lanolin (n.)
an emollient containing wool fat (a fatty substance obtained from the wool of sheep);
From wordnet.princeton.edu