It literally translates to:
* 大 (Dai): Great, large
* 霊 (Rei): Spirit, soul
* 零 (Rei): Zero
* 氷 (Hyou): Ice
* 丸 (Maru): Round, ball
However, the meaning goes beyond a literal translation. "Daiguren Hyourinmaru" signifies:
* The ultimate form of Ichigo's Zanpakuto, embodying the spirit of ice.
* It represents both the immense power and control Ichigo gains in his Bankai.
* The "zero" in "Rei" signifies a state of emptiness, representing the Zen philosophy of "mu" (nothingness) associated with the Shihoin family's Zanpakuto.
So, while the direct translation is "Great Spirit Zero Ice Ball," "Daiguren Hyourinmaru" stands for Ichigo's powerful and controlled ice-based Bankai, carrying a deeper meaning of emptiness and spiritual control.