Named after Franz-Neumann-Platz, which honours the Social Democrat Franz Neumann.
Franz Neumann (1904–1974), a Berliner, was after the war one of the leading opponents of merging the SPD and the Communists into a single party, and chaired the Berlin SPD from 1946 to 1958. The square was named after him in 1979. The station, opened in 1987, carries the addition Am Schäfersee for the lake nearby, which is also the theme of its walls, painted with trees and birds.