To set something or someone apart for a sacred purpose. The bread and wine of the Eucharist are consecrated at the Great Thanksgiving, and "the consecration" often means the consecration of the eucharistic gifts. The central prayer accompanying the laying on of hands in the ordination of bishops, priests, and deacons is called the prayer of consecration. The prayer, the action, and the accompanying ceremonies are called "the consecration" in the BCP. The Prayer Book also speaks of the consecration of chrism by the bishop, the consecration of a grave, and the consecration of a church.
Glossary definitions provided courtesy of Church Publishing Incorporated, New York, NY,(All Rights reserved) from "An Episcopal Dictionary of the Church, A User Friendly Reference for Episcopalians," Don S. Armentrout and Robert Boak Slocum, editors.