It's important to note that the pronoun "lo" can refer to both a male person and an object. To be more specific, you could say:
* We love him: "Lo amamos" if "lo" refers to a male person
* We love it: "Lo amamos" if "lo" refers to an object
The verb "amar" means "to love" and "amos" is the first-person plural conjugation, meaning "we".