Named after Otisstraße, which honours the lift inventor Elisha Graves Otis.
Elisha Graves Otis (1811–1861), an American mechanic, invented a safety catch for lifts in 1853 and founded the Otis Elevator Company, which has a factory on this street. The road was renamed after him in 1956. The station opened in 1958 as Seidelstraße (Flugplatz Tegel) and only received its intended name Otisstraße on 6 January 2003.