In SharePoint Online you can create lists from Excel. That means you can upload or choose an excel file and SharePoint imports your data as a SharePoint List. It will create automatically the columns based on your headers in excel. In order to do so, it is necessary to format your excel table as table.
Create list in SharePoint Online
At first you need to go to your SharePoint Site to Site Contents and click on New -> List.
Then choose from Excel and type a name and upload your excel file
Now you can define the column types for each column in your list. It should match to your needs. Be aware that it can be tricky if you use people fields or managed metadata field where the content does not match to your system.
After you finished the list will be created and the data imported.
Really nice feature which we already knew from SharePoint OnPremise. If you like to read more about it, please refer to follow article from Microsoft.