In the Middle Ages the village was called Sentivan (Сентиван) in Serbian.

After a few years it became known as Novo Vasiljevo (Ново Васиљево), and then, finally, Despotovo (Деспотово).

In Hungarian, the village was called Szentivankeszi in the second half of the 13th century (presumably because the family who owned it were the Sentivanji).

Hungarians later accepted Serbian name Despot Sentivan and they called it like that from the 16th century to the 18th.

After the Habsburgs defeated the Ottomans, Serbs started settling in Despotovo again.