Magna cum laude means with great distinction or with high honors.(adjective)
An example of magna cum laude is when a person is near the top of his class and graduates with high honors.
See magna cum laude in Webster's New World College Dictionary
See magna cum laude in American Heritage Dictionary 4
adverb & adj.
Origin: Latin magnā cum laude, with great praise
Origin: : magnā
Origin: , feminine ablative sing. of magnus, great
Origin: + cum, with
Origin: + laude
Origin: , ablative sing. of laus, praise.