The square, bordered by Pidvalna, Grodzicka Streets (now Drukarska Street), Strilecka (now S. Havrishkevycha Street) and Gubernatorsky Val (now a square on Pidvalna Street), received its name around the middle of the 19th century. In 1840-1871, a timber yard was located there, from which the square received the name "Targovitsa dzheva opaloveho" or Firewood Market. In 1846, this name was in German - Holzmarkt. In 1871, it was called Strzelecki Square after the old shooting range located on this site. In December 1941 it was named Schützenplatz. After July 1944, it was called Strilecka for almost two years, and after1946, the square was named in honor of Prince Danylo Halytsky.