Named after the Leopoldplatz, which honours Prince Leopold I of Anhalt-Dessau.
Since 1891 the square has borne the name of Leopold I of Anhalt-Dessau (1676–1747), known as 'Der Alte Dessauer', a reformer of the Prussian army and field marshal. Like the surrounding streets, the name recalls the War of the Spanish Succession, in which the young crown prince Friedrich Wilhelm fought under Leopold. Locals call the square 'Leo'.