Karoly \k(a)-ro-ly\ as a boy's name is a variant of Charles (Old German) and Karl (Old German), and the meaning of Karoly is "free man".

The baby name Karoly sounds like Karol, Karel, Carly, Caroll, Karlo, Karli and Karle. Other similar baby names are Karolik, Karolek, Early, Farly, Garold, Harly, Karny, Karney, Kirkly and Marly.