1. To be idle or slothful; to be totally inactive. ("Laze" is an informal verbalization of "lazy.") I don't want you lazing away on this sofa for the whole weekend, young man! After a long week of work, there's nothing I like better than to laze away for a while with video games or movies.

2. To pass a certain amount or period of time by being very lazy or idle. In this usage, a noun or pronoun can be used between "laze" and "away." Too many kids just laze the summer away in front of their computers or televisions. In my 20s, I would spend every Friday and Saturday night at the bar with my friends, but now that I have kids, I just want to laze away the evenings at home.