Yes, only is in the scrabble dictionary

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Only Definition

adjective

Alone in kind or class; sole: an only child; the only one left.
from The American Heritage Dictionary of the English Language, 4th Edition
Standing alone by reason of superiority or excellence.
from The American Heritage Dictionary of the English Language, 4th Edition
Unquestionably the best .
from Free Scrabble Dictionary
Alone in a class or category .
from Free Scrabble Dictionary
Having no brother or sister .
from Free Scrabble Dictionary

adverb

And nothing else or more: I only work here.
from The American Heritage Dictionary of the English Language, 4th Edition
As recently as: called me only last month.
from The American Heritage Dictionary of the English Language, 4th Edition
At the very least: If you would only come home. The story was only too true.
from The American Heritage Dictionary of the English Language, 4th Edition
Exclusively; solely: facts known only to us.
from The American Heritage Dictionary of the English Language, 4th Edition
In the immediate past: only just saw them.
from The American Heritage Dictionary of the English Language, 4th Edition

conjunction

Were it not that; except.
from The American Heritage Dictionary of the English Language, 4th Edition
With the restriction that; but: You may go, only be careful.
from The American Heritage Dictionary of the English Language, 4th Edition
With the restriction that .
from Free Scrabble Dictionary
And yet .
from Free Scrabble Dictionary
Were it not that .
from Free Scrabble Dictionary

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Top Words by points

Points

only

7

2 letter words with ONLY

Points

lo

2

no

2

on

2

oy

5

yo

5

3 letter words with ONLY

Points

yon

6

4 letter words with ONLY

Points

only

7

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