verb (used with object), utilized, utilizing.
to put to use; turn to profitable account: to utilize a stream to power a mill.
Also, especially British, utilise.

1800–10; < French utiliser, equivalent to utile useful (see utile) + -iser -ize

utilizable, adjective
utilization, noun
utilizer, noun
half-utilized, adjective
misutilization, noun
nonutilization, noun
nonutilized, adjective
overutilization, noun
overutilize, verb (used with object), overutilized, overutilizing.
preutilizable, adjective
preutilization, noun
preutilize, verb (used with object), preutilized, preutilizing.
quasi-utilized, adjective
reutilization, noun
reutilize, verb (used with object), reutilized, reutilizing.
underutilized, adjective
unutilizable, adjective
unutilized, adjective
well-utilized, adjective

use, usage, utilize (see usage note at usage)(see synonym study at use).

See use.
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
utilize or utilise (ˈjuːtɪˌlaɪz)
(tr) to make practical or worthwhile use of
utilise or utilise
'utilizable or utilise
'utilisable or utilise
utili'zation or utilise
utili'sation or utilise
'utilizer or utilise
'utiliser or utilise

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Word Origin & History

1807, from Fr. utiliser, from It. utilizzare, from utile "usable," from L. utilis "usable," from uti (see use). Utilization is first attested 1847.
"Utilize is fast antiquating improve, in the sense of 'turn to account.' " [Fitzedward Hall, "Modern English," 1873]
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
About twenty of us formed a society for the purpose of utilizing this time in
  debate or in practice in public speaking.
Pressure ulcers in the elderly: prevention and treatment utilizing the team
He talked about respect for the entire animal, utilizing each piece to its
  maximum, wasting nothing.
You've argued that it's here to stay, and that it offers certain advantages
  that make it worth utilizing.
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