lo
it
The Spanish pronoun lo means it. It's a very basic and short word that's best memorized as is.
pronoun
  1. it
    Used as a direct object pronoun for masculine singular nouns
    ¿Dónde está el libro? Lo tengo aquí. // Where is the book? I have it here.
article
  1. the
    Used to form neutral expressions with adjectives or participles
    Lo importante es participar. // The important thing is to participate.