Named after the rue Le Peletier, which honours Louis Le Peletier de Mortefontaine (1730–1799).
He was the second-to-last provost of the merchants of Paris, from 1784 to 1789; the street was created in 1786, during his term. He resigned at the Revolution and was replaced on 28 April 1789 by Jacques de Flesselles, who was killed on 14 July 1789, after which the office was abolished.