'balsam' originates from Latin, specifically the word 'balsamum', where the Latin term ultimately derives from Greek 'balsamon' and from a Semitic root (compare Hebrew 'bosem') meaning 'perfume' or 'spice'.

'balsam' entered English via Old French (e.g. 'basam') and Middle English 'balsam', evolving into the modern English word 'balsam'.

Initially it meant 'a fragrant resin or aromatic substance' and over time the sense broadened to include 'a soothing ointment' and the names of plants that produce the resin.