'tulipwood' originates from English, specifically the compound of 'tulip' + 'wood'; 'tulip' itself comes from Ottoman Turkish 'tülbend' (via Persian), where 'tülbend' meant 'turban', and 'wood' comes from Old English 'wudu' meaning 'tree, wood'.

'tulip' passed into English from Ottoman Turkish tülbend (via Persian and French 'tulipe'), while 'wood' developed from Old English 'wudu' through Middle English; the compound 'tulipwood' was formed in English to denote the timber associated with the tulip tree and later applied to other similarly valued timbers (e.g., Brazilian tulipwood).

Initially it referred specifically to the timber of the tulip tree; over time the name has also been applied to other distinct, decorative woods (notably Brazilian tulipwood) that share a desirable appearance.