'axiology' originates from Greek via modern coinage: from Greek 'axios' meaning 'worthy' or 'valuable' plus the combining form '-logy' from Greek 'logos' meaning 'study' or 'discourse'.

'axiology' was formed in modern European languages (late 19th–early 20th century), appearing in forms such as French 'axiologie' and German 'Axiologie' and then entering English as 'axiology'; the plural 'axiologies' follows regular English pluralization.

Initially coined to denote the systematic study of value (ethical and aesthetic value), the term's core meaning has remained the study of values, though its usage broadened to refer to specific value-systems or theoretical approaches to value.