Named after Richard-Wagner-Platz, which honours the composer Richard Wagner (1813–1883).
The former market square was called Wilhelmplatz from 1824; because Mitte already had a prominent Wilhelmplatz, it was renamed after Wagner in 1934. The first station here opened in 1906 as Wilhelmplatz and was renamed in 1935; it closed in 1970. Today's U7 station opened in 1978, with scenes from Wagner's operas in its northern hall.