It is named after Henry Deane Walsh, Engineer-in-chief of the Sydney Harbour Trust.

[1] Walsh Bay is officially defined as that body of water that stretches from the Dawes Point (Aboriginal: Tar-ra) in the north east, to the Millers Point (Aboriginal: Coodyee) in the southwest and the original shoreline has been altered to include developments now known as Piers 1 to 9.

The wharves were converted to apartments, theatres, restaurants, cafes and a hotel,[3] and in 2015 was designated as a major arts precinct.

[3] The bay was first named in 1918 on drawings of a major new ‘wharfage scheme’ to modernise all Sydney's docks to handle steamships and motor vehicles.

The rejuvenation was planned by Henry Deane Walsh as engineer-in-chief of the Sydney Harbour Trust.