In case of non-field quantity that has one value for the whole inertial system, like net electric charge of a body, it means its value is the same in all inertial systems. For example, electron has the same charge in all inertial systems. Therefore it is Lorentz invariant.
In case of a field quantity like $E^2 - c^2B^2$, the value depends on position and time (event). In one inertial system the value of this quantity for event $x^\mu$ is
$$
E^2(x^\mu) - c^2B^2(x^\mu)
$$
In another system where the same event has coordinates $x'^{\mu}$ and the electric and magnetic fields are given by functions $\mathbf E',\mathbf B'$, the value is
$$
E'^2(x'^\mu) - c^2B'^2(x'^\mu).
$$
It can be shown that
$$
E^2(x^\mu) - c^2B^2(x^\mu) = E'^2(x'^\mu) - c^2B'^2(x'^\mu).
$$
It is this property that is meant when saying $E^2-c^2B^2$ is Lorentz invariant. In general case, a field $\phi(x^\mu)$ is Lorentz invariant if its evaluation in two inertial systems, connected via Lorentz transformation, leads to the same value:
$$
\phi(x^\mu) = \phi'(x'^\mu).
$$