'arteriophlebotomy' originates from Greek-derived elements, specifically the combining form 'arterio-' from Greek 'arteria' meaning 'artery' and 'phlebotomy' from Greek 'phlebotomia', where 'phlebo-' meant 'vein' and '-tomy' meant 'cutting'.

'arteriophlebotomy' was created in modern medical English by combining the Greek-derived 'arterio-' with the established word 'phlebotomy' (both elements entered English via Latin/medical Latin); the compound form appeared in medical literature in the 19th century.

Initially it meant 'an incision or opening of an artery and a vein' and that core meaning has largely been retained in modern medical usage.