In mythology, the tree of life usually means life at its deepest source: birth, food, healing, ancestry, wisdom, immortality, renewal, or the link between the human world and the sacred. Its roots reach down, its trunk stands in the middle, and its branches stretch upward, so it easily becomes a picture of a whole universe held together.
The important thing is context. In Genesis, the tree of life is part of a garden story about knowledge, mortality, and guarded access. In Norse myth, Yggdrasil is a world tree carrying gods, worlds, wells, fate, and the threat of Ragnarok. In Buddhist tradition, the Bodhi tree points to awakening at Bodh Gaya. Similar shape, different story.