Is fable a word in the Scrabble Dictionary

Yes, fable is playable

...and is worth 12 points.

Found in the following dictionaries

Enable (Words with friends)
SOWPODS (Collins Scrabble Words)
OTCWL2014 (NASPA Word List 2014)
TWL06 (NASPA List 2006)

"Fable" Definition

noun

A falsehood; a lie.
A story about legendary persons and exploits.
A usually short narrative making an edifying or cautionary point and often employing as characters animals that speak and act like humans.
a fictitious narrative or statement as.
A legendary story of supernatural happenings.

verb-intransitive

Archaic To compose fables.

verb-transitive

To recount as if true.

verb

To tell .
To talk or write about as if true.