Really Like, Love, Like A Lot, Lovable
noun, な adjective
You've hopefully seen 好き by now, which is "to like." So, what happens when you have a 大 (big) like? You really like, like a lot, or love something. This is the same as 好き in that a more literal translation would be lovable, but it's generally translated as a verb in English.
だいすき
The reading comes from 好き which you've hopefully seen. Then, 大 is the reading you learned with the kanji.
大好きです。
I love you.
なんだかんだ言っても、フグはワニカニのことが大好きなんですよ。
No matter what he says, Fugu still likes WaniKani a lot.
体に良くないのは分かってるけど、マクドナルドのポテト、大好きなんだよね。
I know it's not good for my health, but I really love McDonald's fries.