The English form is derived from the Latin Iacobus, from the Greek Ἰάκωβος (Iakobos), ultimately from the Hebrew יַעֲקֹב‎ (Yaʿaqōḇ), the name of Jacob, biblical patriarch of the Israelites, and a major figure in the Abrahamic religions.

The name comes either from the Hebrew root עקב ʿqb meaning "to follow, to be behind" but also "to supplant, circumvent, assail, overreach", or from the word for "heel", עֲקֵב ʿaqeb.

The prefix “ya-” and the internal vowel “-o-” typically indicate a masculine third-person singular imperfective form in Hebrew,[2][3] suggesting meanings like “he will”, “he may”, or “he shall”.

The name is etymologized (in a direct speech by the character Esau) in Genesis 27:36, adding the significance of Jacob having "supplanted" his elder brother by buying his birthright.

From 1999 through 2012, Jacob was the most popular baby name for boys in the United States.