It means that there is still lots of time to do things. "Nothing interesting has happened, but the night is still young." It means, don't believe that nothing will happen, because anything could happen. It is used at night, usually when partying/drinking as a way of saying don't worry, something exciting may still happen.

It means its still too early to go home. For example its 1am and your friends say "Lets go bowling the night is still young"

One or more members of a group has or have expressed that it's late and they're ready to go home or "call it a night." Another member of the group replies that "the night is still young." They mean it's not really that late, so let's continue the party, the discussion, the activity, etc.

It means it is still early in the night. It is usually used when people think it is too early to go home or that there is still a lot time to do things.

It means it's still early.For example:when somebody wants to leave you can use "the night is still young" , there's still time to stay out.