Definition of ye olde from the Oxford Advanced Learner's Dictionary

 

ye olde

 
BrE
 
; NAmE
 
 
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a phrase meaning 'the old' in an old form of English. (The old letter 'y' was sometimes used to represent what is now written as 'th'.) The phrase is now sometimes used in the names of restaurants, shops, pubs or hotels in Britain to show or pretend that they are very old Ye Olde Tea Shoppe