From god- +‎ parent, modelled after godfather, godmother, godsib, etc.

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godparent (plural godparents)

1. A person who, at a child's naming ceremony or baptism, agrees to help raise the child, originally and especially in regard to their religious development.

   Hyponyms: godfather, godmother

2. A child's designated guardian in the case that the child's parents die.