Obviously, the word 'life' has multiple meanings; at the most fundamental - and I'd say, the least interesting - level it is the now pretty well-understood mode of collective behavior as well as the variety of processes and mechanisms that have naturally evolved to ensure the perpetual existence of a mass of large molecules of a certain kind (viz. proteins).
In short, self replication in a complex environment where the replicators have to find resources (energy and nutrients), cooperate and compete against other agents.