Named for Russian scientist Konstantin Tsiolkovsky,[3] it lies in the southern hemisphere, to the west of the large crater Gagarin, and northwest of Milne.

Tsiolkovskiy has been considered one of the largest craters of the Upper (Late) Imbrian age,[4][5] although that dating was revised to the Imbrian/Eratosthenian boundary in 2013.

[9] This feature was discovered on photographs sent back by the Russian spacecraft Luna 3, and was subsequently imaged by several of the American Lunar Orbiters and then by Apollo astronauts.

Apollo 17 Astronaut Harrison "Jack" Schmitt and other scientists (Schmitt was the only trained scientist, a geologist, to walk on the Moon) strongly advocated Tsiolkovskiy as the landing site of Apollo 17, using small communications satellites deployed from the Command/Service Module for communication from the far side of the Moon.

By convention these features are identified on lunar maps by placing the letter on the side of the crater midpoint that is closest to Tsiolkovskiy.