What is the literal meaning of 'Mahavamsa'?

The great chronicle.

The literal meaning of 'Mahavamsa' is 'the great chronicle'.

As Buddhism expanded to new regions like Sri Lanka, additional texts were written, including the Dipavamsa (the chronicle of the island) and the Mahavamsa (the great chronicle), encompassing regional histories of Buddhism and biographies of the Buddha. Some of the earliest texts were composed in Pali, while later works were in Sanskrit.