Definitions for "Living fossil"
An extant species which is morphologically very similar to a species from the ancient past. Despite apparent lack of change, they seem to have escaped extinction. Coelacanth (a 350 million-years-old lobe-finned fish), Horseshoe Crab (a 510 million-years-old marine arthropod), Amazon River Dolphin, Gingko (maidenhair tree, a gymnosperm), and Metasequoia (Metasequoia glyptostrobodes, a conifer) are examples.
A living fossil is an organism that lived during ancient times and still live today, relatively unchanged, like the horseshoe crab. Magnetic Field The Earth's magnetic field is aligned with the north and south poles, and has reversed many times during geologic history. A fossil's magnetic orientation can give clues to its date.
a member of a species that represents a genus or larger grouping in which all the other species have died out
A recent being whose external form has changed little since its inception. (From Niles Eldridge of the American Museum of Natural History.)