The settlement was named for the nearby Mount Iultin. According to one source, the name translated from the Chukchi means "long icicle", though another source translates the name as "long feathers." It is thought that either of these translations are due to the variety of quartz veins on the mountains slopes.V.V. Leontev and K.A. Novikova, Топонимический словарь северо-востока СССР (Toponymic Dictionary of the Northeastern USSR) (1989) Magadan. p.162J. Muir, The Cruise of the Corwin Introduction
