Meaning and information about Alfreda, What does Alfreda mean? Alfreda means Variant of Elfreda: Elf strength, good counselor. From the Old English name Aelfthryth. Also a feminine form of Alfred, meaning sage, or wise, from the Old English Aelfraed, meaning elf counsel. Also from Ealdfrith or Alfrid, meaning old peace. Find similar names like Alfreda.