It all depends on whose doing the counting! The two best answers at present are “make” and “run”

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Most often the “official” answer is taken from Oxford English Dictionary (OED)

According to the 2nd edition of the OED, the answer woudl be “SET” (as one answer-er has already suggested.

But according to the most RECENT edition of the OED (3rd edition, published in 2000) it has been overtaken by

“MAKE”

The rest of its ‘tops’ lists:

set (verb),

run (verb)

take (verb)

go (verb)

pre- (revised)

non- (revised)

over- (revised)

stand (verb)

red

point (the noun – revised)

http://www.oed.com/news/revisions.html

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According to Irving Lorge of Columbia University, who made a special study of the 570 words in English with the most meanings. Tops on his list:

RUN and its compounds –with 800.

(He also finds hundreds of meanings each for -put, make, pass, stand, work.)

http://www.time.com/time/magazine/article/0,9171,811678,00.html

RE:
Which word in the English language has the most definitions?
Which word in the English language has the most definitions?

1- season

2- jump

3- fountain

4- wire spring

464 definitions!