'ferromagnetic' originates from Latin and Greek: from Latin 'ferrum' meaning 'iron' (giving the combining form 'ferro-') and from Greek via Latin 'magnet-'/'magnetic' (from Greek 'magnēs' meaning 'lodestone' or 'magnet').

'ferromagnetic' developed as a scientific compound in the 19th century by combining the Latin-derived prefix 'ferro-' (from 'ferrum') with 'magnetic' (from Greek/Latin 'magnet-'); the related terms 'ferromagnet' and 'ferromagnetism' appeared in scientific literature and the adjective form followed.

Initially formed to indicate 'relating to iron magnetism', the term broadened to mean 'relating to the property of strong, typically permanent magnetism exhibited by certain materials', not limited strictly to elemental iron.