Caralee \c(a)-ra-lee\ as a girl's name is a variant of Cara (Latin, Irish, Gaelic), and the meaning of Caralee is "beloved; friend".

The baby name Caralee sounds like Karalee, Caralie, Caralea, Carlee, Carolee and Coralee. Other similar baby names are Caraleen and Saralee.