1Dearly loved, greatly beloved.
2Chiefly in or with reference to royal letters, decrees, etc., prefixed to the name or designation of a lord: highly esteemed or honoured. Usually in "(right) trusty and well-beloved".
A dearly loved person. Chiefly with possessive adjective.
Late Middle English; earliest use found in Geoffrey Chaucer (c1340–1400), poet and administrator. From well + beloved.