Milo is most commonly considered to be Germanic name derived from the Latin word miles, meaning "soldier." However, there is evidence to suggest it also may have independently spawned from the Slavic root milu, meaning "merciful." Milo predates brother name Miles, a variation that evolved when the name immigrated to the British Isles in the Middle Ages. Mylo is an alternate spelling.

Milo is one of the top names for boys on Nameberry, and now it's used for an increasing number of baby girls too.