The station is so named due to its location beneath Avenida Irarrázaval, a main road of the commune of Ñuñoa, which in turn was named after the Chilean lawyer and politician Manuel José Yrarrázaval Larraín.

[3] Construction of the 6.5 km tunnel between Irarrázaval and Fernando Castillo Velasco was completed in 2017 on a budget of 145 million euro.

[6] To the south of the station at the intersection with Grecia Avenue is the site of the former Suárez Mujica Palace, a Neoclassic Greco-Roman construction which was destroyed by fire in 2005.

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